BlackRock Inc. Takes Position in Innovative Solutions and Support, Inc. $ISSC

Key Points

• BlackRock acquired 1.07 million shares of Innovative Solutions and Support during the second quarter, establishing a stake worth approximately $19.2 million, or 5.96% of the company.
• ISSC reported quarterly EPS of $0.33, beating the $0.22 consensus estimate, while revenue of $26.73 million exceeded expectations of $23.98 million. The company posted a 20.50% net margin and 30.53% return on equity.
• Shares opened at $18.51 after declining 2.6%, while analyst sentiment remains a consensus “Buy”; however, the average price target of $16.25 is below the current share price, and several research firms recently downgraded the stock to “Hold.”

BlackRock Inc. bought a new position in Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,066,911 shares of the aerospace company's stock, valued at approximately $19,204,000. BlackRock Inc. owned about 5.96% of Innovative Solutions and Support at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in Innovative Solutions and Support by 7,484.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,441 shares of the aerospace company's stock worth $27,000 after acquiring an additional 1,422 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Innovative Solutions and Support in the fourth quarter valued at $36,000. Bank of America Corp DE grew its holdings in shares of Innovative Solutions and Support by 589.9% in the third quarter. Bank of America Corp DE now owns 9,113 shares of the aerospace company's stock valued at $114,000 after purchasing an additional 7,792 shares in the last quarter. Royal Bank of Canada increased its position in Innovative Solutions and Support by 496.6% in the first quarter. Royal Bank of Canada now owns 7,619 shares of the aerospace company's stock worth $156,000 after purchasing an additional 6,342 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Innovative Solutions and Support during the second quarter valued at $159,000. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Innovative Solutions and Support Trading Down 2.6%

Shares of ISSC opened at $18.51 on Thursday. Innovative Solutions and Support, Inc. has a twelve month low of $8.13 and a twelve month high of $30.94. The company has a market cap of $331.20 million, a P/E ratio of 17.63 and a beta of 0.59. The company has a current ratio of 2.97, a quick ratio of 1.49 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $19.74 and its 200-day simple moving average is $21.03.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The aerospace company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.11. Innovative Solutions and Support had a net margin of 20.50% and a return on equity of 30.53%. The firm had revenue of $26.73 million during the quarter, compared to analysts' expectations of $23.98 million. As a group, analysts expect that Innovative Solutions and Support, Inc. will post 0.97 EPS for the current year.

Wall Street Analyst Weigh In

ISSC has been the subject of a number of recent research reports. Wall Street Zen cut shares of Innovative Solutions and Support from a "buy" rating to a "hold" rating in a research note on Saturday, May 23rd. Zacks Research downgraded shares of Innovative Solutions and Support from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. Finally, Weiss Ratings lowered Innovative Solutions and Support from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Innovative Solutions and Support presently has a consensus rating of "Buy" and an average price target of $16.25.

Innovative Solutions and Support Profile

Innovative Solutions and Support, Inc NASDAQ: ISSC is a provider of technology solutions and mission support services to U.S. federal government agencies, with a focus on defense, intelligence, and national security programs. The company delivers integrated program management, systems engineering, and advanced IT infrastructure support designed to enhance operational readiness and maintain secure, scalable environments for mission-critical operations.

Its core service offerings include systems integration, custom software development, data analytics, cybersecurity, and logistics management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source