Algert Global LLC Acquires Shares of 24,140 Innovative Solutions and Support, Inc. $ISSC

Key Points

• Algert Global LLC has acquired 24,140 shares of Innovative Solutions and Support, Inc. (ISSC), valued at approximately $152,000, establishing a new position in the aerospace company's stock.
• Major shareholder Christopher Harborne sold 145,009 shares, resulting in an 8.39% decrease in ownership, with total insider sales reaching over $9 million in the past three months.
• Innovative Solutions and Support had a mixed quarter, reporting $0.14 EPS, missing estimates, but achieving revenues of $24.15 million, surpassing analyst predictions of $19.20 million.

Algert Global LLC bought a new stake in shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 24,140 shares of the aerospace company's stock, valued at approximately $152,000. Algert Global LLC owned 0.14% of Innovative Solutions and Support as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. acquired a new position in Innovative Solutions and Support during the 1st quarter worth $64,000. Schonfeld Strategic Advisors LLC bought a new stake in Innovative Solutions and Support in the fourth quarter valued at about $89,000. XTX Topco Ltd bought a new stake in Innovative Solutions and Support during the fourth quarter worth about $119,000. Sterneck Capital Management LLC bought a new stake in Innovative Solutions and Support during the first quarter worth about $112,000. Finally, NewEdge Advisors LLC grew its stake in Innovative Solutions and Support by 7.5% during the fourth quarter. NewEdge Advisors LLC now owns 24,475 shares of the aerospace company's stock worth $209,000 after buying an additional 1,709 shares during the last quarter. Institutional investors and hedge funds own 28.53% of the company's stock.

Insider Buying and Selling

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 145,009 shares of the firm's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $13.69, for a total transaction of $1,985,173.21. Following the completion of the transaction, the insider owned 1,583,411 shares of the company's stock, valued at approximately $21,676,896.59. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 713,234 shares of company stock worth $9,102,691 over the last ninety days. Company insiders own 4.40% of the company's stock.

Innovative Solutions and Support Price Performance

Shares of NASDAQ ISSC remained flat at $13.42 during trading on Thursday. 400,262 shares of the stock traded hands, compared to its average volume of 960,532. Innovative Solutions and Support, Inc. has a 12-month low of $5.30 and a 12-month high of $20.00. The company has a quick ratio of 1.69, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $236.59 million, a P/E ratio of 20.33 and a beta of 0.97. The company's 50 day moving average price is $14.84 and its two-hundred day moving average price is $10.44.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The aerospace company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). The business had revenue of $24.15 million for the quarter, compared to analysts' expectations of $19.20 million. Innovative Solutions and Support had a net margin of 15.10% and a return on equity of 23.86%.

Wall Street Analysts Forecast Growth

ISSC has been the topic of several analyst reports. Wall Street Zen lowered shares of Innovative Solutions and Support from a "buy" rating to a "hold" rating in a report on Sunday. Singular Research raised shares of Innovative Solutions and Support to a "strong-buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Innovative Solutions and Support currently has a consensus rating of "Strong Buy".

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.