Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $1,985,173.21 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 145,009 shares of the 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 transaction, the insider directly owned 1,583,411 shares of the company's stock, valued at approximately $21,676,896.59. This trade represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Christopher Harborne also recently made the following trade(s):

• On Friday, June 27th, Christopher Harborne sold 72,499 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $13.68, for a total transaction of $991,786.32.
• On Thursday, June 26th, Christopher Harborne sold 59,667 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $13.21, for a total transaction of $788,201.07.
• On Wednesday, June 25th, Christopher Harborne sold 90,655 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.92, for a total transaction of $1,171,262.60.
• On Monday, June 23rd, Christopher Harborne sold 89,414 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.50, for a total transaction of $1,117,675.00.
• On Friday, June 20th, Christopher Harborne sold 31,953 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.25, for a total transaction of $391,424.25.
• On Wednesday, June 18th, Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.28, for a total transaction of $211,191.44.
• On Tuesday, June 17th, Christopher Harborne sold 21,809 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.77, for a total transaction of $278,500.93.
• On Wednesday, June 11th, Christopher Harborne sold 5,116 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.77, for a total transaction of $60,215.32.
• On Tuesday, June 10th, Christopher Harborne sold 438 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.75, for a total transaction of $5,146.50.
• On Monday, June 9th, Christopher Harborne sold 63,592 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.78, for a total transaction of $749,113.76.

Innovative Solutions and Support Stock Down 0.4%

ISSC stock traded down $0.05 during midday trading on Tuesday, reaching $13.83. 337,841 shares of the company were exchanged, compared to its average volume of 134,766. The stock's 50-day simple moving average is $10.05 and its 200 day simple moving average is $8.78. Innovative Solutions and Support, Inc. has a 1-year low of $5.25 and a 1-year high of $14.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.66 and a current ratio of 4.87. The company has a market cap of $243.41 million, a price-to-earnings ratio of 22.67 and a beta of 0.94.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.18. Innovative Solutions and Support had a net margin of 16.61% and a return on equity of 24.37%. The firm had revenue of $21.94 million for the quarter, compared to analyst estimates of $15.37 million.

Analysts Set New Price Targets

ISSC has been the topic of several analyst reports. Wall Street Zen raised shares of Innovative Solutions and Support from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Singular Research raised shares of Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position 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 in the last quarter. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Innovative Solutions and Support by 68.0% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company's stock worth $1,321,000 after purchasing an additional 85,000 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of Innovative Solutions and Support by 0.8% during the 1st quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company's stock worth $1,208,000 after purchasing an additional 1,588 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter worth $1,283,000. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

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.