CenterBook Partners LP Buys 129,884 Shares of Innovative Solutions and Support, Inc. $IA

Key Points

• CenterBook Partners LP opened a new position in Innovative Solutions and Support, buying 129,884 shares worth about $2.41 million, or roughly 0.73% of the company.
• Other institutional investors also added positions in the third quarter; hedge funds and institutions collectively own 28.53% of the stock.
• IA opened at $19.45, while analysts’ ratings combine to a “Moderate Buy” consensus. The company reported quarterly EPS of $0.33 on $26.73 million in revenue.

CenterBook Partners LP bought a new position in Innovative Solutions and Support, Inc. (NASDAQ:IA - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 129,884 shares of the company's stock, valued at approximately $2,412,000. CenterBook Partners LP owned about 0.73% of Innovative Solutions and Support at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. acquired a new stake in Innovative Solutions and Support during the 3rd quarter worth about $1,387,000. Commonwealth Equity Services LLC acquired a new position in shares of Innovative Solutions and Support in the third quarter valued at about $405,000. Integrity Alliance LLC. acquired a new position in shares of Innovative Solutions and Support in the third quarter valued at about $188,000. Isthmus Partners LLC acquired a new position in shares of Innovative Solutions and Support in the third quarter valued at about $3,181,000. Finally, Triumph Capital Management increased its holdings in shares of Innovative Solutions and Support by 80.6% in the third quarter. Triumph Capital Management now owns 1,400 shares of the company's stock valued at $26,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 28.53% of the company's stock.

Innovative Solutions and Support Price Performance

NASDAQ IA opened at $19.45 on Monday. Innovative Solutions and Support, Inc. has a 1 year low of $8.13 and a 1 year high of $30.94. The company has a quick ratio of 1.49, a current ratio of 2.97 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $348.15 million, a P/E ratio of 18.52 and a beta of 0.64. The firm's fifty day simple moving average is $19.22.

Innovative Solutions and Support (NASDAQ:IA - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.33 earnings per share for the quarter. The company had revenue of $26.73 million for the quarter. Innovative Solutions and Support had a return on equity of 30.53% and a net margin of 20.50%. Research analysts expect that Innovative Solutions and Support, Inc. will post 1.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IA. Wall Street Zen cut Innovative Solutions and Support from a "buy" rating to a "hold" rating in a research note on Saturday, October 24th. Zacks Research lowered Innovative Solutions and Support from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 16th. Finally, Weiss Ratings upgraded shares of Innovative Solutions and Support from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Innovative Solutions and Support presently has a consensus rating of "Moderate Buy".

Innovative Solutions and Support Profile

Innovative Solutions and Support, Inc NASDAQ: IA is an aerospace technology company that develops, manufactures and supports avionics and cockpit systems. Its products are designed for commercial air transport, business and general aviation, and military aircraft.

The company's offerings include advanced flight displays, electronic flight instrument systems, air data and navigation systems, integrated cockpit solutions, and other aircraft instrumentation and avionics. Innovative Solutions and Support serves both original-equipment manufacturers and aircraft operators, including customers seeking to upgrade or modernize existing aircraft.

Founded in 1988 and headquartered in Exton, Pennsylvania, the company provides products and support for aircraft operating in domestic and international markets.

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