Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 69,599 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 69,599 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $11.21, for a total transaction of $780,204.79. Following the completion of the transaction, the insider now owns 2,431,570 shares of the company’s stock, valued at approximately $27,257,899.70. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 Tuesday, January 21st, Christopher Harborne sold 98,600 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $10.82, for a total transaction of $1,066,852.00.
• On Friday, January 17th, Christopher Harborne sold 10,000 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $10.16, for a total transaction of $101,600.00.

Innovative Solutions and Support Price Performance

Shares of NASDAQ:ISSC opened at $11.14 on Friday. The business has a fifty day moving average price of $8.36 and a 200-day moving average price of $7.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.77 and a quick ratio of 3.02. The company has a market capitalization of $195.40 million, a PE ratio of 27.85 and a beta of 1.00. Innovative Solutions and Support, Inc. has a 1-year low of $4.91 and a 1-year high of $11.50.

Innovative Solutions and Support (NASDAQ:ISSC) last issued its earnings results on Thursday, December 19th. The aerospace company reported $0.21 earnings per share (EPS) for the quarter. Innovative Solutions and Support had a net margin of 14.83% and a return on equity of 18.32%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 5th.

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 business. Dimensional Fund Advisors LP grew its stake in shares of Innovative Solutions and Support by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,119 shares of the aerospace company’s stock worth $2,509,000 after acquiring an additional 8,760 shares during the period. Pekin Hardy Strauss Inc. purchased a new stake in Innovative Solutions and Support in the third quarter worth approximately $466,000. Gabelli Funds LLC boosted its holdings in Innovative Solutions and Support by 42.2% in the second quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 18,585 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Innovative Solutions and Support by 29.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after purchasing an additional 9,888 shares during the period. Finally, Corsair Capital Management L.P. purchased a new stake in Innovative Solutions and Support during the 3rd quarter valued at $155,000. 28.53% of the stock is owned by institutional investors.

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.