Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 5,116 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 5,116 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $11.77, for a total value of $60,215.32. Following the completion of the sale, the insider now owns 2,111,615 shares in the company, valued at $24,853,708.55. This trade represents a 0.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large 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 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 shares were 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 value of $204,187.40.

Innovative Solutions and Support Trading Down 2.2%

Innovative Solutions and Support stock traded down $0.27 during mid-day trading on Friday, hitting $12.04. The company's stock had a trading volume of 26,065 shares, compared to its average volume of 119,948. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.22 and a quick ratio of 3.02. The stock has a market cap of $211.95 million, a price-to-earnings ratio of 31.69 and a beta of 0.88. The business has a 50 day moving average price of $8.36 and a 200-day moving average price of $8.33. Innovative Solutions and Support, Inc. has a 12 month low of $5.25 and a 12 month high of $12.41.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 EPS for the quarter, topping the consensus estimate 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 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 equities analysts recently weighed in on the company. 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 report on Wednesday, May 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP purchased a new stake in Innovative Solutions and Support during the 4th quarter valued at $1,283,000. Punch & Associates Investment Management Inc. raised its stake in shares of Innovative Solutions and Support by 68.0% during 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 acquiring an additional 85,000 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Innovative Solutions and Support during the first quarter worth about $523,000. Renaissance Technologies LLC grew its stake in shares of 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 purchasing an additional 75,100 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. increased its holdings in 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 valued at $1,024,000 after purchasing an additional 59,940 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.