Ameriprise Financial Inc. Buys New Stake in Innovative Solutions and Support, Inc. (NASDAQ:ISSC)

Ameriprise Financial Inc. purchased a new stake in Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 45,602 shares of the aerospace company's stock, valued at approximately $389,000. Ameriprise Financial Inc. owned approximately 0.26% of Innovative Solutions and Support as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC purchased a new position in shares of Innovative Solutions and Support in the 4th quarter worth approximately $89,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter valued at $107,000. XTX Topco Ltd purchased a new position in Innovative Solutions and Support during the 4th quarter worth $119,000. NewEdge Advisors LLC boosted its stake in Innovative Solutions and Support by 7.5% in the 4th quarter. NewEdge Advisors LLC now owns 24,475 shares of the aerospace company's stock worth $209,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Innovative Solutions and Support during the 4th quarter worth approximately $269,000. Hedge funds and other institutional investors own 28.53% of the company's stock.

Innovative Solutions and Support Price Performance

Shares of Innovative Solutions and Support stock traded up $0.07 during trading hours on Friday, reaching $11.76. 150,849 shares of the company's stock were exchanged, compared to its average volume of 117,072. 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 market capitalization of $207.02 million, a P/E ratio of 30.95 and a beta of 0.89. The business has a fifty day moving average of $7.78 and a two-hundred day moving average of $8.18. The company has a quick ratio of 3.02, a current ratio of 5.22 and a debt-to-equity ratio of 0.55.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 11,944 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $11.79, for a total value of $140,819.76. Following the completion of the sale, the insider now directly owns 2,216,198 shares in the company, valued at $26,128,974.42. This represents a 0.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 80,447 shares of company stock valued at $936,261 in the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Innovative Solutions and Support 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.