Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC grew its holdings in Innovative Solutions and Support, Inc. (NASDAQ:ISSC - Free Report) by 18.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 480,659 shares of the aerospace company's stock after buying an additional 75,100 shares during the period. Renaissance Technologies LLC owned 2.74% of Innovative Solutions and Support worth $4,105,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Barclays PLC acquired a new position in Innovative Solutions and Support in the 3rd quarter valued at about $32,000. Mesirow Financial Investment Management Inc. increased its holdings in shares of Innovative Solutions and Support by 100.0% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 119,880 shares of the aerospace company's stock valued at $1,024,000 after purchasing an additional 59,940 shares during the period. Isthmus Partners LLC raised its stake in shares of Innovative Solutions and Support by 17.9% during the fourth quarter. Isthmus Partners LLC now owns 190,460 shares of the aerospace company's stock worth $1,627,000 after purchasing an additional 28,882 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Innovative Solutions and Support by 28.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,535 shares of the aerospace company's stock worth $483,000 after purchasing an additional 12,495 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Innovative Solutions and Support during the fourth quarter worth $339,000. Institutional investors and hedge funds own 28.53% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Christopher Harborne sold 7,086 shares of Innovative Solutions and Support stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $11.17, for a total transaction of $79,150.62. Following the completion of the transaction, the insider now directly owns 2,417,771 shares of the company's stock, valued at approximately $27,006,502.07. The trade was a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 85,424 shares of company stock worth $963,008. Corporate insiders own 4.40% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Innovative Solutions and Support from a "hold" rating to a "buy" rating in a research report on Friday, April 11th.

Innovative Solutions and Support Stock Performance

ISSC traded up $0.01 during trading on Friday, reaching $6.71. The company's stock had a trading volume of 22,104 shares, compared to its average volume of 101,357. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.02 and a current ratio of 5.22. The company's fifty day moving average price is $6.58 and its 200-day moving average price is $7.84. Innovative Solutions and Support, Inc. has a 52-week low of $4.91 and a 52-week high of $12.17. The company has a market capitalization of $117.73 million, a price-to-earnings ratio of 17.66 and a beta of 0.88.

Innovative Solutions and Support (NASDAQ:ISSC - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The aerospace company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.11). The business had revenue of $15.97 million during the quarter. Innovative Solutions and Support had a net margin of 12.40% and a return on equity of 16.80%.

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.