Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $780,204.79 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 69,599 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $11.21, for a total value of $780,204.79. Following the transaction, the insider now directly owns 2,431,570 shares of the company’s stock, valued at approximately $27,257,899.70. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 Tuesday, January 21st, Christopher Harborne sold 98,600 shares of Innovative Solutions and Support stock. The shares were 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 Price Performance

Shares of NASDAQ:ISSC traded up $0.23 on Friday, reaching $11.47. 68,088 shares of the company traded hands, compared to its average volume of 260,250. Innovative Solutions and Support, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $11.44. The company’s 50 day moving average is $8.29 and its 200-day moving average is $7.24. The stock has a market capitalization of $201.17 million, a PE ratio of 28.76 and a beta of 1.00. 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 announced its quarterly earnings data on Thursday, December 19th. The aerospace company reported $0.21 EPS 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 lowered Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 5th.

Institutional Investors Weigh In On Innovative Solutions and Support

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC acquired a new stake in shares of Innovative Solutions and Support during the 3rd quarter valued at $32,000. James Investment Research Inc. purchased a new stake in shares of Innovative Solutions and Support in the third quarter valued at $68,000. Corsair Capital Management L.P. purchased a new stake in shares of Innovative Solutions and Support in the third quarter valued at $155,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings 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 purchasing an additional 9,888 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Innovative Solutions and Support by 42.2% in 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 in the last quarter. Institutional investors and hedge funds 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.