Christopher Harborne Sells 11,944 Shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 11,944 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $11.79, for a total transaction of $140,819.76. Following the sale, the insider now owns 2,216,198 shares in the company, valued at $26,128,974.42. This represents a 0.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, June 4th, Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.67, for a total transaction of $513,444.99.
• On Tuesday, June 3rd, Christopher Harborne sold 6,766 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.50, for a total transaction of $77,809.00.
• On Monday, June 2nd, Christopher Harborne sold 17,740 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.51, for a total transaction of $204,187.40.

Innovative Solutions and Support Price Performance

Shares of NASDAQ:ISSC opened at $11.76 on Friday. The company has a market cap of $207.02 million, a price-to-earnings ratio of 30.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.22 and a quick ratio of 3.02. The firm has a 50 day simple moving average of $7.88 and a 200 day simple moving average of $8.22. Innovative Solutions and Support, Inc. has a one year low of $5.25 and a one year high of $12.17.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.12 by $0.18. The business had revenue of $21.94 million during the quarter, compared to the consensus estimate of $15.37 million. Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%.

Analysts Set New Price Targets

Several brokerages recently commented on ISSC. Singular Research raised shares of Innovative Solutions and Support to a “strong-buy” rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Innovative Solutions and Support from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st.

Hedge Funds Weigh In On Innovative Solutions and Support

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. lifted its holdings in shares of Innovative Solutions and Support by 100.0% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company’s stock worth $1,024,000 after purchasing an additional 59,940 shares during the period. Isthmus Partners LLC increased its holdings in Innovative Solutions and Support by 17.9% in the fourth quarter. Isthmus Partners LLC now owns 190,460 shares of the aerospace company’s stock valued at $1,627,000 after purchasing an additional 28,882 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Innovative Solutions and Support by 28.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,535 shares of the aerospace company’s stock valued at $483,000 after purchasing an additional 12,495 shares during the period. Virtu Financial LLC acquired a new stake in Innovative Solutions and Support in the fourth quarter valued at $339,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Innovative Solutions and Support in the fourth quarter valued at $107,000. Institutional investors own 28.53% of the company’s stock.

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.