Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 90,655 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Get Free Report) major shareholder Christopher Harborne sold 90,655 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $12.92, for a total value of $1,171,262.60. Following the completion of the sale, the insider now owns 1,860,586 shares of the company's stock, valued at approximately $24,038,771.12. This represents a 4.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 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 Monday, June 23rd, Christopher Harborne sold 89,414 shares of Innovative Solutions and Support stock. The shares were 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 stock was 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 shares were sold at an average price of $12.28, for a total transaction of $211,191.44.
• On Tuesday, June 17th, Christopher Harborne sold 21,809 shares of Innovative Solutions and Support stock. The stock was 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 stock was 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 transaction 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.
• On Wednesday, June 4th, Christopher Harborne sold 43,997 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.67, for a total value of $513,444.99.

Innovative Solutions and Support Price Performance

ISSC traded up $0.10 on Thursday, hitting $13.18. 144,982 shares of the company were exchanged, compared to its average volume of 128,953. Innovative Solutions and Support, Inc. has a fifty-two week low of $5.25 and a fifty-two week high of $13.49. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.66 and a current ratio of 4.87. The firm has a market capitalization of $232.02 million, a P/E ratio of 21.63 and a beta of 0.89. The business's fifty day moving average is $9.59 and its 200 day moving average is $8.64.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The aerospace company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $21.94 million during the quarter, compared to analysts' expectations of $15.37 million.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ISSC. Singular Research upgraded Innovative Solutions and Support to a "strong-buy" rating in a research note on Friday, May 16th. 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.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ISSC. Jane Street Group LLC grew its holdings 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 buying an additional 16,808 shares in the last quarter. Punch & Associates Investment Management Inc. grew its position in shares of Innovative Solutions and Support by 68.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 210,000 shares of the aerospace company's stock valued at $1,321,000 after purchasing an additional 85,000 shares during the period. OMERS ADMINISTRATION Corp acquired a new stake in Innovative Solutions and Support in the 1st quarter worth about $523,000. Teton Advisors Inc. grew its holdings in Innovative Solutions and Support by 48.9% in the 1st quarter. Teton Advisors Inc. now owns 137,000 shares of the aerospace company's stock valued at $862,000 after buying an additional 45,000 shares during the period. Finally, Gabelli Funds LLC increased its stake in shares of Innovative Solutions and Support by 39.0% during the 1st quarter. Gabelli Funds LLC now owns 87,000 shares of the aerospace company's stock valued at $547,000 after acquiring an additional 24,415 shares during the last quarter. Institutional investors and hedge funds own 28.53% of the company's stock.

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.

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