Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 35,437 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 35,437 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $11.76, for a total value of $416,739.12. Following the completion of the transaction, the insider now directly owns 2,180,761 shares in the company, valued at $25,645,749.36. This trade represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions 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 value of $749,113.76.
• 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 transaction 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 transaction 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 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 Stock Down 0.9%

Shares of ISSC stock traded down $0.11 during trading hours on Tuesday, reaching $11.65. 119,187 shares of the company's stock were exchanged, compared to its average volume of 118,184. Innovative Solutions and Support, Inc. has a 1 year low of $5.25 and a 1 year high of $12.17. 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 market cap of $205.00 million, a PE ratio of 30.67 and a beta of 0.89. The stock's fifty day moving average price is $7.99 and its two-hundred day moving average price is $8.25.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last issued its earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share (EPS) 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 company had revenue of $21.94 million during the quarter, compared to analyst estimates of $15.37 million.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ISSC shares. Wall Street Zen raised Innovative Solutions and Support from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a research report on Friday, May 16th.

Hedge Funds Weigh In On Innovative Solutions and Support

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. acquired a new position in Innovative Solutions and Support in the first quarter valued at approximately $64,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Innovative Solutions and Support during the 4th quarter worth approximately $89,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Innovative Solutions and Support during the 4th quarter valued at approximately $107,000. Sterneck Capital Management LLC purchased a new stake in Innovative Solutions and Support in the 1st quarter worth $112,000. Finally, XTX Topco Ltd purchased a new stake in shares of Innovative Solutions and Support during the fourth quarter worth approximately $119,000. 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.