Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $1,066,852.00 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 98,600 shares of the firm’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 transaction of $1,066,852.00. Following the completion of the sale, the insider now owns 2,501,169 shares in the company, valued at $27,062,648.58. This represents a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 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 Thursday, January 23rd, Christopher Harborne sold 69,599 shares of Innovative Solutions and Support stock. The stock was sold at an average price of $11.21, for a total transaction of $780,204.79.
• 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 value of $101,600.00.

Innovative Solutions and Support Stock Performance

ISSC opened at $11.14 on Friday. The company has a current ratio of 4.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.60. The company has a market cap of $195.40 million, a price-to-earnings ratio of 27.85 and a beta of 1.00. The company’s 50 day moving average is $8.36 and its 200 day moving average is $7.27. Innovative Solutions and Support, Inc. has a 12-month low of $4.91 and a 12-month high of $11.50.

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

Hedge Funds Weigh In On Innovative Solutions and Support

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC purchased a new position in Innovative Solutions and Support during the third quarter valued at $32,000. Dimensional Fund Advisors LP lifted its position in shares of Innovative Solutions and Support by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 418,119 shares of the aerospace company’s stock valued at $2,509,000 after buying an additional 8,760 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Innovative Solutions and Support by 29.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock valued at $287,000 after buying an additional 9,888 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Innovative Solutions and Support during the 3rd quarter valued at about $68,000. Finally, Gabelli Funds LLC lifted its holdings in Innovative Solutions and Support by 42.2% during the second quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock valued at $376,000 after purchasing an additional 18,585 shares in the last quarter. 28.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a research 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.