OMERS ADMINISTRATION Corp Purchases Shares of 83,200 Innovative Solutions and Support, Inc. $ISSC

Key Points

• OMERS ADMINISTRATION Corp acquired 83,200 shares of Innovative Solutions and Support, Inc. during the 1st quarter, valued at approximately $523,000, increasing their stake to 0.47% of the company.
• Major shareholder Christopher Harborne sold 145,009 shares for about $1.99 million, reducing his ownership by 8.39% and leading to 644,731 shares sold by insiders in the last ninety days.
• Analyst ratings for Innovative Solutions and Support are mixed, with some firms downgrading shares while others have given it a Strong Buy rating, indicating varied market perspectives on its performance.

OMERS ADMINISTRATION Corp purchased a new stake in shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 83,200 shares of the aerospace company's stock, valued at approximately $523,000. OMERS ADMINISTRATION Corp owned 0.47% of Innovative Solutions and Support at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ISSC. Walleye Capital LLC boosted its stake in shares of Innovative Solutions and Support by 158.7% during the 1st quarter. Walleye Capital LLC now owns 86,824 shares of the aerospace company's stock worth $546,000 after acquiring an additional 53,267 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter worth approximately $389,000. Teton Advisors Inc. boosted its stake in shares of Innovative Solutions and Support by 48.9% during the 1st quarter. Teton Advisors Inc. now owns 137,000 shares of the aerospace company's stock worth $862,000 after acquiring an additional 45,000 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its stake in shares of Innovative Solutions and Support by 48.5% during the 1st 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 in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of 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 NASDAQ:ISSC traded down $0.49 on Friday, hitting $11.62. The company had a trading volume of 632,011 shares, compared to its average volume of 958,955. The company has a current ratio of 3.53, a quick ratio of 1.69 and a debt-to-equity ratio of 0.41. Innovative Solutions and Support, Inc. has a 52-week low of $5.30 and a 52-week high of $20.00. The business has a 50 day moving average of $14.75 and a 200 day moving average of $10.56. The company has a market cap of $204.86 million, a PE ratio of 17.61 and a beta of 0.80.

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

Analyst Ratings Changes

Several brokerages have recently commented on ISSC. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a research note on Friday, May 16th. Wall Street Zen lowered Innovative Solutions and Support from a "buy" rating to a "hold" rating in a research note on Sunday, August 24th. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Innovative Solutions and Support presently has an average rating of "Strong Buy".

Insiders Place Their Bets

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 145,009 shares of the business's stock in a transaction 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 completion of the transaction, the insider directly owned 1,583,411 shares in the company, valued at approximately $21,676,896.59. The trade was a 8.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 597,350 shares of company stock valued at $7,749,690. Insiders own 4.40% of the company's stock.

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.