Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $391,424.25 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 31,953 shares of the business's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $12.25, for a total value of $391,424.25. Following the completion of the transaction, the insider now directly owns 2,040,655 shares in the company, valued at approximately $24,998,023.75. This represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company's stock 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 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 transaction of $278,500.93.
• 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 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 stock was 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 shares were 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 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 shares were 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 stock was sold at an average price of $11.51, for a total transaction of $204,187.40.

Innovative Solutions and Support Price Performance

Innovative Solutions and Support stock traded up $0.31 during midday trading on Monday, reaching $12.65. 296,812 shares of the stock were exchanged, compared to its average volume of 126,121. The company's fifty day moving average is $9.17 and its 200-day moving average is $8.54. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.66 and a current ratio of 4.87. Innovative Solutions and Support, Inc. has a 52 week low of $5.25 and a 52 week high of $13.40. The firm has a market cap of $222.64 million, a PE ratio of 20.74 and a beta of 0.88.

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

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds and other institutional investors have recently bought and sold shares of ISSC. Isthmus Partners LLC increased its position in shares of Innovative Solutions and Support by 0.8% during the 1st quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company's stock valued at $1,208,000 after purchasing an additional 1,588 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Innovative Solutions and Support by 7.5% during the fourth quarter. NewEdge Advisors LLC now owns 24,475 shares of the aerospace company's stock valued at $209,000 after purchasing an additional 1,709 shares during the period. HighTower Advisors LLC boosted its stake in shares of Innovative Solutions and Support by 4.0% during the first quarter. HighTower Advisors LLC now owns 48,987 shares of the aerospace company's stock valued at $308,000 after purchasing an additional 1,880 shares during the period. Geode Capital Management LLC grew its holdings in shares of Innovative Solutions and Support by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 125,592 shares of the aerospace company's stock worth $1,073,000 after purchasing an additional 3,835 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Innovative Solutions and Support by 9.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,618 shares of the aerospace company's stock worth $287,000 after buying an additional 4,038 shares during the period. Hedge funds and other institutional investors own 28.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ISSC. 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. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

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.