Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $991,786.32 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 72,499 shares of Innovative Solutions and Support stock in a transaction on Friday, June 27th. The stock was sold at an average price of $13.68, for a total value of $991,786.32. Following the transaction, the insider directly owned 1,728,420 shares of the company's stock, valued at $23,644,785.60. This trade represents a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 stock was 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 shares were sold at an average price of $12.25, for a total transaction 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 shares were 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 shares were sold at an average price of $11.78, for a total transaction of $749,113.76.

Innovative Solutions and Support Trading Down 0.4%

Shares of NASDAQ ISSC traded down $0.05 on Tuesday, reaching $13.83. 337,841 shares of the company traded hands, compared to its average volume of 134,766. Innovative Solutions and Support, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $14.37. The company has a 50 day moving average of $10.05 and a 200 day moving average of $8.78. The company has a current ratio of 4.87, a quick ratio of 2.66 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $243.41 million, a PE ratio of 22.67 and a beta of 0.94.

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

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Innovative Solutions and Support from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Singular Research raised shares of Innovative Solutions and Support to a "strong-buy" rating in a research note 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.