Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Sees Large Decline in Short Interest


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Innovative Solutions and Support, Inc. (NASDAQ:ISSC) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 7,700 shares, a drop of 54.4% from the December 15th total of 16,900 shares. Based on an average trading volume of 24,700 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Innovative Solutions and Support stock traded down $0.02 during trading hours on Wednesday, hitting $5.98. 457 shares of the stock were exchanged, compared to its average volume of 39,485. The stock has a market capitalization of $102.94 million, a P/E ratio of 31.58 and a beta of 1.19. Innovative Solutions and Support has a 12 month low of $1.20 and a 12 month high of $8.24. The business’s 50-day moving average is $6.84 and its two-hundred day moving average is $6.41.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings data on Wednesday, December 9th. The aerospace company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). Innovative Solutions and Support had a net margin of 15.14% and a return on equity of 8.75%.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 30th. Investors of record on Monday, December 21st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, December 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 33.44%.

In other news, Director Roger Anthony Carolin sold 28,443 shares of the company’s stock in a transaction dated Tuesday, December 15th. The shares were sold at an average price of $8.05, for a total transaction of $228,966.15. Following the completion of the transaction, the director now owns 35,050 shares of the company’s stock, valued at $282,152.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Winston J. Churchill sold 15,202 shares of the company’s stock in a transaction dated Thursday, December 17th. The shares were sold at an average price of $7.76, for a total transaction of $117,967.52. Following the completion of the sale, the director now directly owns 46,559 shares in the company, valued at approximately $361,297.84. The disclosure for this sale can be found here. 27.10% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. UBS Group AG grew its position in shares of Innovative Solutions and Support by 25.4% in the 2nd quarter. UBS Group AG now owns 13,290 shares of the aerospace company’s stock valued at $66,000 after acquiring an additional 2,690 shares during the period. Bridgeway Capital Management Inc. lifted its stake in shares of Innovative Solutions and Support by 1.9% during the 2nd quarter. Bridgeway Capital Management Inc. now owns 81,900 shares of the aerospace company’s stock worth $410,000 after buying an additional 1,500 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Innovative Solutions and Support by 2.3% during the 3rd quarter. BlackRock Inc. now owns 477,094 shares of the aerospace company’s stock worth $3,263,000 after buying an additional 10,937 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Innovative Solutions and Support by 23.5% during the 3rd quarter. Morgan Stanley now owns 133,014 shares of the aerospace company’s stock worth $910,000 after buying an additional 25,300 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Innovative Solutions and Support Company Profile

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottle, and cockpit display system in the United States and internationally. It offers flat panel display systems that replicates the display of analog or digital displays on one screen and replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; and flight management systems that complement the flat panel display system upgrade for commercial air transport aircraft.

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