Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Position Reduced by Mesirow Financial Investment Management Inc.

Key Points

• Mesirow Financial Investment Management Inc. sold 59,940 shares of Innovative Solutions and Support, reducing its stake by 50% in the 1st quarter, leaving it with 0.34% of the company worth $377,000.
• Insider Christopher Harborne sold 145,009 shares at $13.69 each, resulting in an 8.39% reduction of his ownership, while insiders sold a total of 713,234 shares worth over $9 million in the last quarter.
• Innovative Solutions and Support reported an earnings per share of $0.30 for the last quarter, significantly exceeding analyst estimates, and received a "strong-buy" rating from Singular Research.

Mesirow Financial Investment Management Inc. decreased its holdings in Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) by 50.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,940 shares of the aerospace company's stock after selling 59,940 shares during the period. Mesirow Financial Investment Management Inc. owned 0.34% of Innovative Solutions and Support worth $377,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in Innovative Solutions and Support by 9.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,618 shares of the aerospace company's stock worth $287,000 after purchasing an additional 4,038 shares during the last quarter. Pekin Hardy Strauss Inc. raised its position in shares of Innovative Solutions and Support by 48.5% in the first quarter. Pekin Hardy Strauss Inc. now owns 102,500 shares of the aerospace company's stock worth $645,000 after acquiring an additional 33,475 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Innovative Solutions and Support in the 4th quarter valued at about $389,000. Jane Street Group LLC purchased a new position in shares of Innovative Solutions and Support in the 4th quarter valued at about $269,000. Finally, Renaissance Technologies LLC raised its position in shares of Innovative Solutions and Support by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company's stock worth $4,105,000 after purchasing an additional 75,100 shares during the last quarter. Institutional investors own 28.53% of the company's stock.

Analysts Set New Price Targets

ISSC has been the subject of several research reports. Wall Street Zen raised shares of Innovative Solutions and Support from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Singular Research upgraded shares of Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

Innovative Solutions and Support Stock Performance

Innovative Solutions and Support stock traded up $1.31 during midday trading on Monday, hitting $16.82. 419,605 shares of the company's stock were exchanged, compared to its average volume of 262,294. The stock has a market cap of $296.03 million, a price-to-earnings ratio of 27.59 and a beta of 0.97. The firm's 50 day simple moving average is $13.42 and its 200 day simple moving average is $9.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.66 and a current ratio of 4.87. Innovative Solutions and Support, Inc. has a 12-month low of $5.30 and a 12-month high of $16.87.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.18. The company had revenue of $21.94 million during the quarter, compared to analysts' expectations of $15.37 million. Innovative Solutions and Support had a net margin of 16.61% and a return on equity of 24.37%.

Insider Transactions at Innovative Solutions and Support

In other news, major shareholder Christopher Harborne sold 145,009 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $13.69, for a total transaction of $1,985,173.21. Following the transaction, the insider directly owned 1,583,411 shares of the company's stock, valued at approximately $21,676,896.59. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 713,234 shares of company stock valued at $9,102,691 in the last ninety days. 4.40% of the stock is currently owned by insiders.

About Innovative Solutions and Support

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.