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 Innovative Solutions and Support stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $11.78, for a total transaction of $749,113.76. Following the completion of the transaction, the insider now owns 2,117,169 shares of the company's stock, valued at $24,940,250.82. This represents a 2.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $11.75, for a total value 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 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 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 value of $204,187.40.

Innovative Solutions and Support Stock Performance

Innovative Solutions and Support stock traded up $0.33 during midday trading on Friday, hitting $12.64. 297,014 shares of the company's stock were exchanged, compared to its average volume of 121,019. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22. The stock has a market cap of $222.51 million, a price-to-earnings ratio of 33.26 and a beta of 0.88. Innovative Solutions and Support, Inc. has a 12-month low of $5.25 and a 12-month high of $12.81. The firm's 50 day simple moving average is $8.36 and its 200 day simple moving average is $8.33.

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

Hedge Funds Weigh In On Innovative Solutions and Support

Several institutional investors have recently bought and sold shares of the company. Isthmus Partners LLC boosted its holdings in shares of Innovative Solutions and Support by 0.8% in the first quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company's stock valued at $1,208,000 after acquiring an additional 1,588 shares in the last quarter. NewEdge Advisors LLC lifted its position in Innovative Solutions and Support by 7.5% in 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 position in shares of Innovative Solutions and Support by 4.0% during the 1st quarter. HighTower Advisors LLC now owns 48,987 shares of the aerospace company's stock worth $308,000 after purchasing an additional 1,880 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Innovative Solutions and Support by 3.1% during the 4th 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 period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Innovative Solutions and Support by 9.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 45,618 shares of the aerospace company's stock worth $287,000 after purchasing an additional 4,038 shares during the period. 28.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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