Innovative Solutions and Support, Inc. $ISSC Shares Acquired by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC increased its holdings in Innovative Solutions and Support by 39.0% during Q1, owning approximately $547,000 worth of the company's stock.
• Innovative Solutions and Support reported Q2 earnings of $0.14 per share, missing estimates, while its revenue of $24.15 million exceeded analyst expectations of $19.20 million.
• Major shareholder Christopher Harborne sold over 145,000 shares in June, decreasing his ownership position by 8.39%.

Gabelli Funds LLC grew its stake in Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) by 39.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 87,000 shares of the aerospace company's stock after buying an additional 24,415 shares during the quarter. Gabelli Funds LLC owned 0.50% of Innovative Solutions and Support worth $547,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Innovative Solutions and Support by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company's stock worth $3,690,000 after purchasing an additional 10,061 shares in the last quarter. Isthmus Partners LLC boosted its holdings in Innovative Solutions and Support by 0.8% during the first quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company's stock worth $1,208,000 after buying an additional 1,588 shares in the last quarter. Pekin Hardy Strauss Inc. grew its position in Innovative Solutions and Support by 48.5% during the first quarter. Pekin Hardy Strauss Inc. now owns 102,500 shares of the aerospace company's stock valued at $645,000 after buying an additional 33,475 shares during the period. Walleye Capital LLC increased its holdings in Innovative Solutions and Support by 158.7% in the first quarter. Walleye Capital LLC now owns 86,824 shares of the aerospace company's stock valued at $546,000 after buying an additional 53,267 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in Innovative Solutions and Support by 4.0% in the first quarter. HighTower Advisors LLC now owns 48,987 shares of the aerospace company's stock valued at $308,000 after buying an additional 1,880 shares in the last quarter. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Innovative Solutions and Support

In related news, major shareholder Christopher Harborne sold 145,009 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $13.69, for a total value of $1,985,173.21. Following the transaction, the insider directly owned 1,583,411 shares in the company, valued at approximately $21,676,896.59. This represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 632,787 shares of company stock worth $8,166,430. 4.40% of the stock is currently owned by insiders.

Innovative Solutions and Support Trading Up 0.3%

NASDAQ ISSC traded up $0.04 on Thursday, reaching $12.15. 328,372 shares of the company were exchanged, compared to its average volume of 352,930. The company has a current ratio of 3.53, a quick ratio of 1.69 and a debt-to-equity ratio of 0.41. The business's fifty day moving average price is $14.82 and its 200 day moving average price is $10.50. The stock has a market capitalization of $214.20 million, a P/E ratio of 18.42 and a beta of 0.80. Innovative Solutions and Support, Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $20.00.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on ISSC shares. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th. Wall Street Zen cut Innovative Solutions and Support from a "buy" rating to a "hold" rating in a research report on Sunday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company 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.