Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 31,953 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 31,953 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $12.25, for a total value of $391,424.25. Following the completion of the transaction, the insider now owns 2,040,655 shares in the company, valued at approximately $24,998,023.75. The trade was a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major 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 Wednesday, June 18th, Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.28, for a total value of $211,191.44.
• On Tuesday, June 17th, Christopher Harborne sold 21,809 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.77, for a total value of $278,500.93.
• On Wednesday, June 11th, Christopher Harborne sold 5,116 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.77, for a total value of $60,215.32.
• On Tuesday, June 10th, Christopher Harborne sold 438 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.75, for a total value of $5,146.50.
• On Monday, June 9th, Christopher Harborne sold 63,592 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.78, for a total value of $749,113.76.
• On Friday, June 6th, Christopher Harborne sold 35,437 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.76, for a total value of $416,739.12.
• On Thursday, June 5th, Christopher Harborne sold 11,944 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.79, for a total value of $140,819.76.
• On Wednesday, June 4th, Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.67, for a total value of $513,444.99.
• On Tuesday, June 3rd, Christopher Harborne sold 6,766 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.50, for a total value 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 value of $204,187.40.

Innovative Solutions and Support Trading Up 2.2%

NASDAQ:ISSC traded up $0.28 during mid-day trading on Monday, hitting $12.62. 195,257 shares of the stock traded hands, compared to its average volume of 125,741. The stock has a market capitalization of $222.02 million, a price-to-earnings ratio of 20.66 and a beta of 0.88. The company has a quick ratio of 2.66, a current ratio of 4.87 and a debt-to-equity ratio of 0.51. Innovative Solutions and Support, Inc. has a 52 week low of $5.25 and a 52 week high of $13.40. The firm’s 50 day moving average is $9.17 and its two-hundred day moving average is $8.54.

Innovative Solutions and Support (NASDAQ:ISSC) last released its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.18. The firm had revenue of $21.94 million for the quarter, compared to analyst estimates of $15.37 million. Innovative Solutions and Support had a net margin of 16.61% and a return on equity of 24.37%.

Institutional Investors Weigh In On Innovative Solutions and Support

A number of institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in Innovative Solutions and Support in the 4th quarter valued at $1,283,000. Punch & Associates Investment Management Inc. grew its stake in Innovative Solutions and Support by 68.0% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company’s stock valued at $1,321,000 after acquiring an additional 85,000 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in Innovative Solutions and Support in the 1st quarter valued at about $523,000. Renaissance Technologies LLC lifted its holdings in shares of Innovative Solutions and Support by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company’s stock worth $4,105,000 after acquiring an additional 75,100 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in shares of Innovative Solutions and Support by 100.0% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company’s stock worth $1,024,000 after acquiring an additional 59,940 shares during the period. 28.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ISSC has been the topic of a number of recent analyst reports. 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. Singular Research raised shares of Innovative Solutions and Support to a “strong-buy” rating in a research report on Friday, May 16th.

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.