Christopher Harborne Sells 35,437 Shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 35,437 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $11.76, for a total transaction of $416,739.12. Following the sale, the insider now directly owns 2,180,761 shares in the company, valued at $25,645,749.36. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• 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 transaction of $749,113.76.
• On Thursday, June 5th, Christopher Harborne sold 11,944 shares of Innovative Solutions and Support stock. The shares were 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 stock was 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 Stock Performance

ISSC stock opened at $11.64 on Wednesday. The firm has a market cap of $204.91 million, a PE ratio of 30.63 and a beta of 0.88. The company has a current ratio of 5.22, a quick ratio of 3.02 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $8.10 and a 200-day moving average price of $8.27. Innovative Solutions and Support, Inc. has a 1-year low of $5.25 and a 1-year high of $12.17.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its earnings results 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. Innovative Solutions and Support had a return on equity of 16.80% and a net margin of 12.40%. The business had revenue of $21.94 million during the quarter, compared to the consensus estimate of $15.37 million.

Institutional Trading of Innovative Solutions and Support

Several hedge funds have recently modified their holdings of ISSC. Marshall Wace LLP bought a new position in Innovative Solutions and Support during the fourth quarter worth $1,283,000. Punch & Associates Investment Management Inc. raised its holdings in shares of Innovative Solutions and Support by 68.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company’s stock valued at $1,321,000 after purchasing an additional 85,000 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of Innovative Solutions and Support during the 1st quarter worth about $523,000. Renaissance Technologies LLC grew its stake in shares of Innovative Solutions and Support by 18.5% in the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company’s stock valued at $4,105,000 after buying an additional 75,100 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of Innovative Solutions and Support by 100.0% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company’s stock valued at $1,024,000 after buying an additional 59,940 shares during the period. Institutional investors own 28.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ISSC shares. Wall Street Zen upgraded shares of Innovative Solutions and Support from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. Singular Research upgraded shares of Innovative Solutions and Support to a “strong-buy” rating in a research report on Friday, May 16th.

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.