Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $1,117,675.00 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 89,414 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $12.50, for a total transaction of $1,117,675.00. Following the completion of the sale, the insider now owns 1,951,241 shares in the company, valued at $24,390,512.50. The trade was a 4.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 20th, Christopher Harborne sold 31,953 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.25, for a total value of $391,424.25.
• On Wednesday, June 18th, Christopher Harborne sold 17,198 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.28, for a total value of $211,191.44.
• On Tuesday, June 17th, Christopher Harborne sold 21,809 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $12.77, for a total value of $278,500.93.
• On Wednesday, June 11th, Christopher Harborne sold 5,116 shares of Innovative Solutions and Support stock. The stock was 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 transaction of $5,146.50.
• On Monday, June 9th, Christopher Harborne sold 63,592 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.78, for a total transaction of $749,113.76.
• 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 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 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 value 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 value of $77,809.00.

Innovative Solutions and Support Price Performance

Shares of ISSC traded up $0.70 during mid-day trading on Tuesday, hitting $13.35. 373,430 shares of the company were exchanged, compared to its average volume of 127,526. The stock has a market cap of $234.96 million, a price-to-earnings ratio of 21.89 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 $13.40. The company has a 50 day moving average of $9.30 and a 200-day moving average of $8.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.66 and a current ratio of 4.87.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.12 by $0.18. The company 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 24.37% and a net margin of 16.61%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ISSC. Renaissance Technologies LLC lifted its stake in shares of Innovative Solutions and Support by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 480,659 shares of the aerospace company's stock worth $4,105,000 after buying an additional 75,100 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Innovative Solutions and Support by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company's stock valued at $3,690,000 after acquiring an additional 10,061 shares during the last quarter. Punch & Associates Investment Management Inc. lifted its stake in Innovative Solutions and Support by 68.0% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company's stock worth $1,321,000 after purchasing an additional 85,000 shares in the last quarter. Isthmus Partners LLC boosted its holdings in shares of Innovative Solutions and Support by 0.8% during the 1st quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company's stock worth $1,208,000 after purchasing an additional 1,588 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Innovative Solutions and Support in the fourth quarter valued at approximately $1,283,000. 28.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ISSC has been the subject of several research analyst reports. Wall Street Zen raised 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 report on Friday, May 16th.

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.