Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 21,809 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 21,809 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $12.77, for a total transaction of $278,500.93. Following the completion of the transaction, the insider now directly owns 2,089,806 shares in the company, valued at approximately $26,686,822.62. The trade was a 1.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Wednesday, June 18th, Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.28, for a total transaction of $211,191.44.
• On Wednesday, June 11th, Christopher Harborne sold 5,116 shares of Innovative Solutions and Support stock. The stock was 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 stock was 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 stock was sold at an average price of $11.78, for a total transaction of $749,113.76.
• On Friday, June 6th, Christopher Harborne sold 35,437 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.76, for a total transaction of $416,739.12.
• 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.
• On Monday, June 2nd, Christopher Harborne sold 17,740 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.51, for a total transaction of $204,187.40.

Innovative Solutions and Support Trading Down 0.1%

Shares of Innovative Solutions and Support stock traded down $0.01 during trading on Friday, reaching $12.34. 155,365 shares of the stock were exchanged, compared to its average volume of 125,431. The company has a quick ratio of 2.66, a current ratio of 4.87 and a debt-to-equity ratio of 0.51. The stock's fifty day moving average is $9.17 and its 200 day moving average is $8.53. The firm has a market cap of $217.23 million, a price-to-earnings ratio of 20.23 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 $13.40.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last posted its 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. The company had revenue of $21.94 million during the quarter, compared to analyst estimates of $15.37 million. Innovative Solutions and Support had a net margin of 16.61% and a return on equity of 24.37%.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in Innovative Solutions and Support in the fourth quarter worth about $1,283,000. Punch & Associates Investment Management Inc. raised its stake 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 worth $1,321,000 after buying an additional 85,000 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in Innovative Solutions and Support in the first quarter worth about $523,000. Renaissance Technologies LLC raised its stake in Innovative Solutions and Support by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company's stock worth $4,105,000 after buying an additional 75,100 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its stake in Innovative Solutions and Support by 100.0% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company's stock worth $1,024,000 after buying an additional 59,940 shares in the last quarter. 28.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

ISSC has been the subject of several analyst reports. Singular Research upgraded shares of Innovative Solutions and Support to a "strong-buy" rating in a research report on Friday, May 16th. 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.

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.