Christopher Harborne Sells 43,997 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 43,997 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $11.67, for a total transaction of $513,444.99. Following the transaction, the insider now directly owns 2,228,142 shares of the company's stock, valued at $26,002,417.14. This represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major 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 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 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 transaction of $204,187.40.

Innovative Solutions and Support Stock Performance

ISSC stock traded up $0.07 during midday trading on Friday, reaching $11.76. 150,849 shares of the company were exchanged, compared to its average volume of 117,450. 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 business has a 50-day moving average price of $7.78 and a two-hundred day moving average price of $8.18. 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 $207.02 million, a price-to-earnings ratio of 30.95 and a beta of 0.89.

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 analysts' consensus estimates 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 analysts' expectations of $15.37 million.

Hedge Funds Weigh In On Innovative Solutions and Support

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in Innovative Solutions and Support during the first quarter worth $64,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Innovative Solutions and Support during the fourth quarter worth $89,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Innovative Solutions and Support in the fourth quarter valued at about $107,000. Sterneck Capital Management LLC bought a new position in Innovative Solutions and Support during the first quarter worth about $112,000. Finally, XTX Topco Ltd acquired a new stake in Innovative Solutions and Support in the 4th quarter worth about $119,000. 28.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ISSC has been the subject of several analyst reports. Wall Street Zen raised shares of Innovative Solutions and Support from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Singular Research raised 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.