Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 43,997 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 43,997 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $11.67, for a total transaction of $513,444.99. Following the completion of the sale, the insider now directly owns 2,228,142 shares of the company's stock, valued at $26,002,417.14. This trade represents a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 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 shares were sold at an average price of $11.51, for a total value of $204,187.40.

Innovative Solutions and Support Trading Up 0.6%

ISSC traded up $0.07 during midday trading on Friday, hitting $11.76. 150,849 shares of the company were exchanged, compared to its average volume of 117,836. The firm has a market capitalization of $207.02 million, a P/E ratio of 30.95 and a beta of 0.89. Innovative Solutions and Support, Inc. has a 1-year low of $5.25 and a 1-year high of $12.17. The firm's 50 day moving average price is $7.88 and its 200-day moving average price is $8.22. The company has a quick ratio of 3.02, a current ratio of 5.22 and a debt-to-equity ratio of 0.55.

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

Hedge Funds Weigh In On Innovative Solutions and Support

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. bought a new position in shares of Innovative Solutions and Support in the first quarter worth $64,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Innovative Solutions and Support during the fourth quarter valued at approximately $89,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Innovative Solutions and Support during the fourth quarter valued at approximately $107,000. Sterneck Capital Management LLC bought a new stake in shares of Innovative Solutions and Support during the first quarter valued at approximately $112,000. Finally, XTX Topco Ltd bought a new position in shares of Innovative Solutions and Support during the 4th quarter valued at $119,000. Hedge funds and other institutional investors own 28.53% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. 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. Singular Research upgraded shares of Innovative Solutions and Support to a "strong-buy" rating in a research note 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.