Punch & Associates Investment Management Inc. Buys 85,000 Shares of Innovative Solutions and Support, Inc. $ISSC

Key Points

• Punch & Associates Investment Management Inc. increased its stake in Innovative Solutions and Support, Inc. by 68% during the first quarter, holding 210,000 shares valued at approximately $1.32 million.
• Major shareholder Christopher Harborne sold 145,009 shares at an average price of $13.69, reducing his ownership by 8.39% while still retaining 1.58 million shares valued at around $21.68 million.
• Recently, Wall Street analysts issued mixed ratings for ISSC, with one firm downgrading it to "hold" while another maintained a "strong buy" rating, reflecting differing outlooks on the company's future performance.

Punch & Associates Investment Management Inc. boosted its stake in Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) by 68.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 210,000 shares of the aerospace company's stock after purchasing an additional 85,000 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 1.20% of Innovative Solutions and Support worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its stake in Innovative Solutions and Support by 9.7% in the 1st 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 period. Pekin Hardy Strauss Inc. boosted its stake in Innovative Solutions and Support by 48.5% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 102,500 shares of the aerospace company's stock worth $645,000 after purchasing an additional 33,475 shares during the period. Ameriprise Financial Inc. bought a new stake in shares of Innovative Solutions and Support during the 4th quarter valued at about $389,000. Jane Street Group LLC bought a new stake in shares of Innovative Solutions and Support during the 4th quarter valued at about $269,000. Finally, Algert Global LLC bought a new stake in shares of Innovative Solutions and Support during the 1st quarter valued at about $152,000. Institutional investors own 28.53% of the company's stock.

Analyst Ratings Changes

ISSC has been the subject of a number of research analyst reports. Wall Street Zen downgraded Innovative Solutions and Support from a "buy" rating to a "hold" rating in a research report on Sunday, August 24th. Singular Research upgraded Innovative Solutions and Support to a "strong-buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Innovative Solutions and Support currently has a consensus rating of "Strong Buy".

Insiders Place Their Bets

In related news, major shareholder Christopher Harborne sold 145,009 shares of the business'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 completion of the sale, the insider owned 1,583,411 shares in the company, valued at $21,676,896.59. The trade was a 8.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 528,204 shares of company stock valued at $6,935,215. Insiders own 4.40% of the company's stock.

Innovative Solutions and Support Price Performance

NASDAQ:ISSC traded down $0.07 during mid-day trading on Friday, reaching $11.21. The stock had a trading volume of 118,553 shares, compared to its average volume of 356,391. The firm has a 50 day moving average price of $14.52 and a two-hundred day moving average price of $10.63. The stock has a market capitalization of $197.63 million, a P/E ratio of 16.99 and a beta of 0.80. Innovative Solutions and Support, Inc. has a one year low of $5.30 and a one year high of $20.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.69 and a current ratio of 3.53.

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

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.