Christopher Harborne Sells 90,655 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 90,655 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $12.92, for a total value of $1,171,262.60. Following the completion of the transaction, the insider now directly owns 1,860,586 shares in the company, valued at $24,038,771.12. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Thursday, June 26th, Christopher Harborne sold 59,667 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $13.21, for a total transaction of $788,201.07.
• On Monday, June 23rd, Christopher Harborne sold 89,414 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $12.50, for a total transaction of $1,117,675.00.
• 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 transaction 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 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 Monday, June 9th, Christopher Harborne sold 63,592 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.78, for a total value of $749,113.76.
• 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 stock was sold at an average price of $11.79, for a total transaction of $140,819.76.

Innovative Solutions and Support Stock Performance

Innovative Solutions and Support stock traded up $0.73 during midday trading on Friday, hitting $13.95. The stock had a trading volume of 466,745 shares, compared to its average volume of 132,097. The firm's fifty day moving average is $9.89 and its two-hundred day moving average is $8.72. The company has a market capitalization of $245.52 million, a PE ratio of 22.87 and a beta of 0.88. Innovative Solutions and Support, Inc. has a 52-week low of $5.25 and a 52-week high of $14.37. The company has a current ratio of 4.87, a quick ratio of 2.66 and a debt-to-equity ratio of 0.51.

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, topping the consensus estimate of $0.12 by $0.18. Innovative Solutions and Support had a net margin of 16.61% and a return on equity of 24.37%. The company had revenue of $21.94 million during the quarter, compared to analyst estimates of $15.37 million.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its position in shares of Innovative Solutions and Support by 53.5% during the first quarter. Jane Street Group LLC now owns 48,250 shares of the aerospace company's stock worth $303,000 after acquiring an additional 16,808 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in shares of Innovative Solutions and Support by 68.0% during the first quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company's stock worth $1,321,000 after acquiring an additional 85,000 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Innovative Solutions and Support during the first quarter worth $523,000. Teton Advisors Inc. boosted its position in shares of Innovative Solutions and Support by 48.9% during the first quarter. Teton Advisors Inc. now owns 137,000 shares of the aerospace company's stock worth $862,000 after acquiring an additional 45,000 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in shares of Innovative Solutions and Support by 39.0% during the first quarter. Gabelli Funds LLC now owns 87,000 shares of the aerospace company's stock worth $547,000 after acquiring an additional 24,415 shares during the last quarter. Institutional investors own 28.53% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ISSC. Singular Research raised shares of Innovative Solutions and Support to a "strong-buy" rating in a report on Friday, May 16th. Wall Street Zen raised shares of Innovative Solutions and Support from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st.

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.