Christopher Harborne Sells 63,592 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 63,592 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $11.78, for a total value of $749,113.76. Following the completion of the sale, the insider now directly owns 2,117,169 shares of the company's stock, valued at approximately $24,940,250.82. This represents a 2.92% decrease in their ownership of the stock. 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 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 transaction of $5,146.50.
• 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 shares were 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 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 value 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 value of $204,187.40.

Innovative Solutions and Support Price Performance

Shares of Innovative Solutions and Support stock traded up $0.41 on Wednesday, hitting $12.05. The company had a trading volume of 223,779 shares, compared to its average volume of 119,065. Innovative Solutions and Support, Inc. has a 52 week low of $5.25 and a 52 week high of $12.21. 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 company has a market cap of $212.13 million, a PE ratio of 31.71 and a beta of 0.88. The business has a 50-day simple moving average of $8.10 and a 200-day simple moving average of $8.27.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share (EPS) for the quarter, beating 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 company had revenue of $21.94 million for the quarter, compared to analysts' expectations of $15.37 million.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Singular Research raised Innovative Solutions and Support to a "strong-buy" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Innovative Solutions and Support from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st.

Institutional Investors Weigh In On Innovative Solutions and Support

Several hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. bought a new stake in Innovative Solutions and Support during the first quarter worth approximately $64,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Innovative Solutions and Support during the 4th quarter valued at $89,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Innovative Solutions and Support during the 4th quarter worth $107,000. Sterneck Capital Management LLC bought a new stake in shares of Innovative Solutions and Support during the 1st quarter worth $112,000. Finally, XTX Topco Ltd acquired a new position in shares of Innovative Solutions and Support in the 4th quarter worth $119,000. 28.53% of the stock is currently owned by institutional investors.

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.