WealthTrust Axiom LLC Trims Position in Innovative Solutions and Support, Inc. $ISSC

Key Points

• WealthTrust Axiom LLC reduced its position in Innovative Solutions and Support, Inc. by 16.7%, selling 125,780 shares during the first quarter, bringing its total holdings to 626,639 shares.
• Following sales by major shareholder Christopher Harborne, 4.40% of shares are owned by insiders, with the recent transaction totaling about $1.98 million.
• Innovative Solutions and Support recently reported earnings of $0.14 per share, missing expectations, while achieving revenue of $24.15 million, exceeding analyst projections.

WealthTrust Axiom LLC lessened its holdings in shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 626,639 shares of the aerospace company's stock after selling 125,780 shares during the quarter. Innovative Solutions and Support makes up about 1.2% of WealthTrust Axiom LLC's investment portfolio, making the stock its 21st biggest position. WealthTrust Axiom LLC owned 3.57% of Innovative Solutions and Support worth $3,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ISSC. American Century Companies Inc. acquired a new stake in shares of Innovative Solutions and Support during the 1st quarter worth $64,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Innovative Solutions and Support during the 4th quarter worth $89,000. Sterneck Capital Management LLC acquired a new stake in shares of Innovative Solutions and Support during the 1st quarter worth $112,000. XTX Topco Ltd acquired a new stake in shares of Innovative Solutions and Support during the 4th quarter worth $119,000. Finally, Algert Global LLC acquired a new stake in shares of Innovative Solutions and Support during the 1st quarter worth $152,000. 28.53% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $1,985,173.21. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 713,234 shares of company stock worth $9,102,691 over the last 90 days. 4.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen downgraded Innovative Solutions and Support from a "buy" rating to a "hold" rating in a report on Sunday. Singular Research upgraded Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Innovative Solutions and Support has an average rating of "Strong Buy".

Innovative Solutions and Support Stock Up 5.1%

Shares of Innovative Solutions and Support stock opened at $14.23 on Monday. Innovative Solutions and Support, Inc. has a 1-year low of $5.30 and a 1-year high of $20.00. The company has a market capitalization of $250.87 million, a PE ratio of 21.56 and a beta of 0.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 1.69. The business has a 50-day moving average of $14.77 and a 200-day moving average of $10.36.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its earnings results on Thursday, August 14th. The aerospace company reported $0.14 earnings per share (EPS) 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 business had revenue of $24.15 million for the quarter, compared to analysts' expectations of $19.20 million.

Innovative Solutions and Support 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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