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 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 transaction, the insider now owns 2,089,806 shares in the company, valued at approximately $26,686,822.62. This trade represents a 1.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more 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 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 value 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 shares were sold at an average price of $11.78, for a total value 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 value of $416,739.12.
• On Thursday, June 5th, Christopher Harborne sold 11,944 shares of Innovative Solutions and Support stock. The shares were 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 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 value of $77,809.00.
• On Monday, June 2nd, Christopher Harborne sold 17,740 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.51, for a total transaction of $204,187.40.

Innovative Solutions and Support Trading Down 1.8%

ISSC traded down $0.23 during trading on Wednesday, reaching $12.37. 174,109 shares of the company's stock were exchanged, compared to its average volume of 201,180. The stock has a market capitalization of $217.62 million, a PE ratio of 20.27 and a beta of 0.89. Innovative Solutions and Support, Inc. has a one year low of $5.25 and a one year high of $13.40. The company has a current ratio of 4.87, a quick ratio of 2.66 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $8.44.

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 (EPS) for the quarter, topping 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 the consensus estimate of $15.37 million.

Analysts Set New Price Targets

A number of brokerages have commented on ISSC. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a 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 research note on Wednesday, May 21st.

Institutional Investors Weigh In On Innovative Solutions and Support

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC increased 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 valued at $303,000 after purchasing an additional 16,808 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in Innovative Solutions and Support by 68.0% in 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. OMERS ADMINISTRATION Corp bought a new position in Innovative Solutions and Support in the 1st quarter worth about $523,000. Teton Advisors Inc. raised its stake in shares of 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 worth $862,000 after purchasing an additional 45,000 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in Innovative Solutions and Support by 39.0% during the first quarter. Gabelli Funds LLC now owns 87,000 shares of the aerospace company's stock valued at $547,000 after purchasing an additional 24,415 shares during the period. 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.

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