Pekin Hardy Strauss Inc. Increases Stake in Innovative Solutions and Support, Inc. (NASDAQ:ISSC)

Pekin Hardy Strauss Inc. lifted its holdings in shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) by 48.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 102,500 shares of the aerospace company's stock after purchasing an additional 33,475 shares during the quarter. Pekin Hardy Strauss Inc. owned about 0.58% of Innovative Solutions and Support worth $645,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Renaissance Technologies LLC grew its holdings 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 period. Dimensional Fund Advisors LP grew its holdings in shares of Innovative Solutions and Support by 2.4% during 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 during the period. Isthmus Partners LLC grew its holdings in shares of Innovative Solutions and Support by 17.9% during the 4th quarter. Isthmus Partners LLC now owns 190,460 shares of the aerospace company's stock worth $1,627,000 after purchasing an additional 28,882 shares during the period. Marshall Wace LLP purchased a new position in shares of Innovative Solutions and Support during the 4th quarter worth $1,283,000. Finally, Geode Capital Management LLC grew its holdings in shares of Innovative Solutions and Support by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 125,592 shares of the aerospace company's stock worth $1,073,000 after purchasing an additional 3,835 shares during the period. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Innovative Solutions and Support Stock Performance

Innovative Solutions and Support stock remained flat at $13.52 during midday trading on Friday. The company had a trading volume of 1,127,323 shares, compared to its average volume of 147,346. The business has a 50-day simple moving average of $11.34 and a 200-day simple moving average of $9.14. Innovative Solutions and Support, Inc. has a 12 month low of $5.25 and a 12 month high of $14.72. The firm has a market capitalization of $237.95 million, a price-to-earnings ratio of 22.16 and a beta of 0.94. 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 (NASDAQ:ISSC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The aerospace company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.18. Innovative Solutions and Support had a return on equity of 24.37% and a net margin of 16.61%. The company had revenue of $21.94 million during the quarter, compared to analysts' expectations of $15.37 million.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Singular Research upgraded Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th. Wall Street Zen upgraded Innovative Solutions and Support from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st.

Insider Activity

In other news, major shareholder Christopher Harborne sold 145,009 shares of Innovative Solutions and Support stock in a transaction dated 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 owned 1,583,411 shares in the company, valued at approximately $21,676,896.59. This trade represents a 8.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 713,234 shares of company stock valued at $9,102,691. Company insiders own 4.40% of the company's stock.

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.