Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 17,740 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 17,740 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $11.51, for a total transaction of $204,187.40. Following the completion of the sale, the insider now directly owns 2,278,905 shares of the company's stock, valued at $26,230,196.55. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 5th, Christopher Harborne sold 11,944 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.79, for a total value of $140,819.76.
• On Wednesday, June 4th, Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.67, for a total value of $513,444.99.
• On Tuesday, June 3rd, Christopher Harborne sold 6,766 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.50, for a total value of $77,809.00.

Innovative Solutions and Support Price Performance

NASDAQ:ISSC traded up $0.07 during mid-day trading on Friday, hitting $11.76. 150,849 shares of the company's stock traded hands, compared to its average volume of 117,836. The company has a market cap of $207.02 million, a PE ratio of 30.95 and a beta of 0.89. Innovative Solutions and Support, Inc. has a 1 year low of $5.25 and a 1 year high of $12.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22. The firm's 50 day simple moving average is $7.88 and its 200 day simple moving average is $8.22.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.18. The company had revenue of $21.94 million during the quarter, compared to the consensus estimate of $15.37 million. Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%.

Analyst Ratings Changes

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

Institutional Trading of Innovative Solutions and Support

A number of institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. acquired a new position in shares of Innovative Solutions and Support in the first quarter worth about $64,000. Schonfeld Strategic Advisors LLC bought a new stake in Innovative Solutions and Support in the 4th quarter valued at $89,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Innovative Solutions and Support in the 4th quarter worth about $107,000. XTX Topco Ltd bought a new stake in shares of Innovative Solutions and Support in the 4th quarter worth about $119,000. Finally, Sterneck Capital Management LLC bought a new stake in Innovative Solutions and Support during the 1st quarter worth about $112,000. 28.53% of the stock is owned by institutional investors and hedge funds.

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.