Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 69,599 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 69,599 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $11.21, for a total value of $780,204.79. Following the completion of the transaction, the insider now owns 2,431,570 shares in the company, valued at approximately $27,257,899.70. This trade represents a 2.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Christopher Harborne also recently made the following trade(s):

• On Tuesday, January 21st, Christopher Harborne sold 98,600 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $10.82, for a total value of $1,066,852.00.
• On Friday, January 17th, Christopher Harborne sold 10,000 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $10.16, for a total value of $101,600.00.

Innovative Solutions and Support Stock Up 2.0 %

NASDAQ ISSC traded up $0.23 on Friday, hitting $11.47. 68,088 shares of the stock traded hands, compared to its average volume of 260,250. The stock has a 50-day moving average of $8.29 and a 200 day moving average of $7.24. Innovative Solutions and Support, Inc. has a twelve month low of $4.91 and a twelve month high of $11.44. The company has a market capitalization of $201.17 million, a P/E ratio of 28.76 and a beta of 1.00. The company has a current ratio of 4.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.60.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its quarterly earnings data on Thursday, December 19th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter. Innovative Solutions and Support had a return on equity of 18.32% and a net margin of 14.83%.

Analyst Ratings Changes

Separately, StockNews.com cut Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 5th.

Hedge Funds Weigh In On Innovative Solutions and Support

Several institutional investors have recently made changes to their positions in ISSC. Pekin Hardy Strauss Inc. bought a new position in shares of Innovative Solutions and Support during the third quarter valued at approximately $466,000. Corsair Capital Management L.P. bought a new position in shares of Innovative Solutions and Support during the third quarter valued at approximately $155,000. Gabelli Funds LLC grew its holdings in shares of Innovative Solutions and Support by 42.2% during the second quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock valued at $376,000 after purchasing an additional 18,585 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Innovative Solutions and Support during the third quarter valued at approximately $68,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Innovative Solutions and Support by 29.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock valued at $287,000 after purchasing an additional 9,888 shares during the last quarter. 28.53% of the stock is owned by institutional investors.

About Innovative Solutions and Support

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottles, and cockpit display systems in the United States and internationally. It offers flat panel display systems that replicate 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 deck management system, a navigation and performance computer that upgrade for commercial air transport aircraft.