Christopher Harborne Sells 31,953 Shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 31,953 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $12.25, for a total value of $391,424.25. Following the transaction, the insider now directly owns 2,040,655 shares of the company's stock, valued at $24,998,023.75. This represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 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 value 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 value of $1,117,675.00.
• 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 value 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 value 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 value 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 value 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 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 stock was sold at an average price of $11.67, for a total value of $513,444.99.

Innovative Solutions and Support Stock Up 1.1%

NASDAQ ISSC traded up $0.14 during trading on Thursday, reaching $13.22. 252,977 shares of the company's stock were exchanged, compared to its average volume of 129,820. Innovative Solutions and Support, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $13.49. The firm has a market capitalization of $232.67 million, a PE ratio of 21.67 and a beta of 0.89. 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 company's fifty day simple moving average is $9.59 and its 200-day simple moving average is $8.64.

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

Institutional Investors Weigh In On Innovative Solutions and Support

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter worth about $389,000. Jane Street Group LLC purchased a new stake in shares of Innovative Solutions and Support during the 4th quarter worth about $269,000. Mesirow Financial Investment Management Inc. raised its stake in shares of Innovative Solutions and Support by 100.0% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company's stock worth $1,024,000 after purchasing an additional 59,940 shares in the last quarter. Renaissance Technologies LLC raised its stake 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. Finally, Northern Trust Corp raised its stake in shares of Innovative Solutions and Support by 32.2% during the 4th quarter. Northern Trust Corp now owns 45,043 shares of the aerospace company's stock worth $385,000 after purchasing an additional 10,961 shares in the last quarter. 28.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.