Christopher Harborne Sells 72,499 Shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 72,499 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $13.68, for a total transaction of $991,786.32. Following the completion of the transaction, the insider directly owned 1,728,420 shares of the company's stock, valued at approximately $23,644,785.60. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 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 Monday, June 30th, Christopher Harborne sold 145,009 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $13.69, for a total value of $1,985,173.21.
• On Thursday, June 26th, Christopher Harborne sold 59,667 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $13.21, for a total value of $788,201.07.
• On Wednesday, June 25th, Christopher Harborne sold 90,655 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.92, for a total value of $1,171,262.60.
• On Monday, June 23rd, Christopher Harborne sold 89,414 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.50, for a total value of $1,117,675.00.
• On Friday, June 20th, Christopher Harborne sold 31,953 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.25, for a total value of $391,424.25.
• On Wednesday, June 18th, Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.28, for a total transaction 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 transaction 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 transaction 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 transaction 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.

Innovative Solutions and Support Trading Down 4.4%

Shares of NASDAQ:ISSC traded down $0.64 during trading on Friday, reaching $13.91. The stock had a trading volume of 328,279 shares, compared to its average volume of 137,727. The company has a quick ratio of 2.66, a current ratio of 4.87 and a debt-to-equity ratio of 0.51. The stock has a market cap of $244.73 million, a P/E ratio of 22.80 and a beta of 0.94. The business has a fifty day moving average price of $10.65 and a 200-day moving average price of $8.93. Innovative Solutions and Support, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $14.72.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its earnings results on Wednesday, May 14th. The aerospace company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.12 by $0.18. The firm had revenue of $21.94 million during the quarter, compared to analyst estimates of $15.37 million. Innovative Solutions and Support had a return on equity of 24.37% and a net margin of 16.61%.

Institutional Investors Weigh In On Innovative Solutions and Support

A number of institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in Innovative Solutions and Support by 18.5% during the fourth quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company's stock worth $4,105,000 after purchasing an additional 75,100 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Innovative Solutions and Support by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company's stock worth $3,690,000 after buying an additional 10,061 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of 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 worth $1,321,000 after buying an additional 85,000 shares during the period. Isthmus Partners LLC boosted its holdings in Innovative Solutions and Support by 0.8% in the first quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company's stock valued at $1,208,000 after acquiring an additional 1,588 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Innovative Solutions and Support in the fourth quarter valued at $1,283,000. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have 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 upgraded 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.