Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 63,368 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 63,368 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $11.21, for a total transaction of $710,355.28. Following the sale, the insider now directly owns 2,311,615 shares of the company’s stock, valued at approximately $25,913,204.15. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Thursday, January 30th, Christopher Harborne sold 7,086 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.17, for a total value of $79,150.62.
• On Thursday, January 23rd, Christopher Harborne sold 69,599 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.21, for a total transaction of $780,204.79.
• 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 transaction 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 transaction of $101,600.00.

Innovative Solutions and Support Stock Up 2.0 %

NASDAQ:ISSC traded up $0.23 during mid-day trading on Wednesday, reaching $11.60. The stock had a trading volume of 79,138 shares, compared to its average volume of 259,088. The stock’s 50 day simple moving average is $8.94 and its two-hundred day simple moving average is $7.61. Innovative Solutions and Support, Inc. has a 1-year low of $4.91 and a 1-year high of $12.17. The company has a market capitalization of $203.46 million, a price-to-earnings ratio of 29.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.77 and a quick ratio of 3.02.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Innovative Solutions and Support from a “buy” rating to a “hold” rating in a report on Monday.

Institutional Trading of Innovative Solutions and Support

Hedge funds have recently modified their holdings of the company. Pekin Hardy Strauss Inc. bought a new stake in Innovative Solutions and Support during the 3rd quarter worth approximately $466,000. Corsair Capital Management L.P. acquired a new position in Innovative Solutions and Support in the third quarter worth $155,000. James Investment Research Inc. bought a new stake in shares of Innovative Solutions and Support during the third quarter worth $68,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Innovative Solutions and Support by 29.0% in 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 buying an additional 9,888 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Innovative Solutions and Support by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,119 shares of the aerospace company’s stock valued at $2,509,000 after buying an additional 8,760 shares during the last quarter. Institutional investors and hedge funds own 28.53% 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, 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.