Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 17,740 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 17,740 shares of the business's stock in a transaction dated 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 transaction, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company's shares 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 transaction of $140,819.76.
• On Wednesday, June 4th, Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.67, for a total transaction 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 transaction of $77,809.00.

Innovative Solutions and Support Stock Up 0.6%

Shares of ISSC stock traded up $0.07 during trading hours on Friday, reaching $11.76. 150,849 shares of the company's stock were exchanged, compared to its average volume of 117,450. Innovative Solutions and Support, Inc. has a 1 year low of $5.25 and a 1 year high of $12.17. The stock has a market cap of $207.02 million, a PE ratio of 30.95 and a beta of 0.89. The company has a current ratio of 5.22, a quick ratio of 3.02 and a debt-to-equity ratio of 0.55. The stock's fifty day moving average price is $7.78 and its two-hundred day moving average price is $8.18.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Innovative Solutions and Support

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC grew its stake in shares of Innovative Solutions and Support by 53.5% during the first quarter. Jane Street Group LLC now owns 48,250 shares of the aerospace company's stock worth $303,000 after acquiring an additional 16,808 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in Innovative Solutions and Support by 68.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company's stock valued at $1,321,000 after buying an additional 85,000 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Innovative Solutions and Support in the first quarter valued at approximately $523,000. Teton Advisors Inc. boosted its position in 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 valued at $862,000 after buying an additional 45,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in 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 valued at $547,000 after buying an additional 24,415 shares during the last quarter. Hedge funds and other institutional investors own 28.53% of the company's stock.

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.