Punch & Associates Investment Management Inc. Has $1.32 Million Stock Holdings in 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. lifted its holdings 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 disclosure with the Securities & Exchange Commission. The firm owned 210,000 shares of the aerospace company's stock after buying an additional 85,000 shares during the period. Punch & Associates Investment Management Inc. owned about 1.20% of Innovative Solutions and Support worth $1,321,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. OMERS ADMINISTRATION Corp acquired a new stake in shares of Innovative Solutions and Support in the first quarter worth $523,000. Teton Advisors Inc. boosted its position in shares of Innovative Solutions and Support by 48.9% in the first quarter. Teton Advisors Inc. now owns 137,000 shares of the aerospace company's stock worth $862,000 after buying an additional 45,000 shares during the period. Gabelli Funds LLC boosted its position in shares of Innovative Solutions and Support by 39.0% in the first quarter. Gabelli Funds LLC now owns 87,000 shares of the aerospace company's stock worth $547,000 after buying an additional 24,415 shares during the period. Walleye Capital LLC boosted its position in shares of 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 worth $546,000 after buying an additional 53,267 shares during the period. Finally, Algert Global LLC acquired a new stake in shares of Innovative Solutions and Support in the first quarter worth $152,000. Institutional investors and hedge funds own 28.53% of the company's stock.

Insider Buying and Selling at Innovative Solutions and Support

In other Innovative Solutions and Support news, major shareholder Christopher Harborne sold 145,009 shares of the business's 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 sale, the insider owned 1,583,411 shares of the company's stock, valued at $21,676,896.59. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 597,350 shares of company stock valued at $7,749,690 over the last ninety days. 4.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Innovative Solutions and Support Stock Down 4.0%

Innovative Solutions and Support stock opened at $11.62 on Friday. The company has a market capitalization of $204.86 million, a P/E ratio of 17.61 and a beta of 0.80. The firm's fifty day simple moving average is $14.75 and its 200-day simple moving average is $10.56. 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 1-year low of $5.30 and a 1-year high of $20.00.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its quarterly 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). 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.

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.

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