Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 98,600 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 98,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $10.82, for a total value of $1,066,852.00. Following the transaction, the insider now directly owns 2,501,169 shares in the company, valued at $27,062,648.58. The trade was a 3.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% 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 Friday, January 17th, Christopher Harborne sold 10,000 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $10.16, for a total transaction of $101,600.00.

Innovative Solutions and Support Stock Performance

Shares of NASDAQ ISSC traded down $0.16 during mid-day trading on Wednesday, reaching $10.65. 360,067 shares of the company’s stock were exchanged, compared to its average volume of 263,985. The firm has a 50-day moving average price of $8.23 and a two-hundred day moving average price of $7.21. 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 firm has a market capitalization of $186.80 million, a price-to-earnings ratio of 26.63 and a beta of 1.00. Innovative Solutions and Support, Inc. has a 52 week low of $4.91 and a 52 week high of $11.29.

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

Institutional Investors Weigh In On Innovative Solutions and Support

Institutional investors and hedge funds have recently modified their holdings of the company. Pekin Hardy Strauss Inc. bought a new stake in Innovative Solutions and Support during the 3rd quarter worth approximately $466,000. Corsair Capital Management L.P. bought a new position in Innovative Solutions and Support in the 3rd quarter worth about $155,000. Gabelli Funds LLC boosted its position in shares of Innovative Solutions and Support by 42.2% during the 2nd quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock valued at $376,000 after acquiring an additional 18,585 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Innovative Solutions and Support during the third quarter worth about $68,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Innovative Solutions and Support by 29.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock valued at $287,000 after purchasing an additional 9,888 shares in the last quarter. 28.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.