Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $140,819.76 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 11,944 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $11.79, for a total transaction of $140,819.76. Following the transaction, the insider now directly owns 2,216,198 shares of the company's stock, valued at $26,128,974.42. This represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Christopher Harborne also recently made the following trade(s):

• 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 transaction of $416,739.12.
• 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 transaction of $513,444.99.
• On Tuesday, June 3rd, Christopher Harborne sold 6,766 shares of Innovative Solutions and Support stock. The stock was 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

NASDAQ:ISSC traded down $0.01 during trading hours on Monday, hitting $11.75. The stock had a trading volume of 195,503 shares, compared to its average volume of 118,147. The company has a 50 day simple moving average of $7.88 and a two-hundred day simple moving average of $8.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.22 and a quick ratio of 3.02. Innovative Solutions and Support, Inc. has a one year low of $5.25 and a one year high of $12.17. The firm has a market capitalization of $206.85 million, a price-to-earnings ratio of 30.92 and a beta of 0.89.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The aerospace company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.12 by $0.18. Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%. The firm had revenue of $21.94 million during the quarter, compared to the consensus estimate of $15.37 million.

Analysts Set New Price Targets

ISSC has been the subject of several recent research reports. 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 raised shares of Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds and other institutional investors have recently modified their holdings of ISSC. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Innovative Solutions and Support by 100.0% in 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. Isthmus Partners LLC boosted its holdings in shares of Innovative Solutions and Support by 17.9% in the 4th quarter. Isthmus Partners LLC now owns 190,460 shares of the aerospace company's stock worth $1,627,000 after purchasing an additional 28,882 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Innovative Solutions and Support by 28.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,535 shares of the aerospace company's stock worth $483,000 after purchasing an additional 12,495 shares in the last quarter. Virtu Financial LLC bought a new stake in Innovative Solutions and Support in the fourth quarter worth $339,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Innovative Solutions and Support in the fourth quarter worth $107,000. 28.53% of the stock is currently owned by hedge funds and other 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.