Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 6,766 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 6,766 shares of Innovative Solutions and Support stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $11.50, for a total value of $77,809.00. Following the transaction, the insider now owns 2,272,139 shares of the company's stock, valued at $26,129,598.50. This represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• 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 stock was sold at an average price of $11.67, for a total value of $513,444.99.
• 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

NASDAQ:ISSC traded up $0.07 during mid-day trading on Friday, hitting $11.76. 150,849 shares of the stock were exchanged, compared to its average volume of 117,450. The stock has a market capitalization of $207.02 million, a price-to-earnings ratio of 30.95 and a beta of 0.89. The firm's 50-day simple moving average is $7.78 and its 200 day simple moving average is $8.18. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22. Innovative Solutions and Support, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $12.17.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.18. The business had revenue of $21.94 million during the quarter, compared to analysts' expectations of $15.37 million. Innovative Solutions and Support had a return on equity of 16.80% and a net margin of 12.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen raised Innovative Solutions and Support from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

Hedge Funds Weigh In On Innovative Solutions and Support

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ISSC. American Century Companies Inc. acquired a new position in Innovative Solutions and Support in the 1st quarter valued at $64,000. Schonfeld Strategic Advisors LLC acquired a new position in Innovative Solutions and Support in the 4th quarter valued at $89,000. Arrowstreet Capital Limited Partnership acquired a new position in Innovative Solutions and Support in the 4th quarter valued at $107,000. Sterneck Capital Management LLC acquired a new position in Innovative Solutions and Support in the 1st quarter valued at $112,000. Finally, XTX Topco Ltd acquired a new position in Innovative Solutions and Support in the 4th quarter valued at $119,000. 28.53% of the stock is owned by institutional investors and hedge funds.

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.