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 company’s stock in a transaction 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 completion of the sale, the insider now directly owns 2,501,169 shares in the company, valued at approximately $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 can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 transaction of $101,600.00.

Innovative Solutions and Support Stock Performance

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

Innovative Solutions and Support (NASDAQ:ISSC) last released its earnings results on Thursday, December 19th. The aerospace company reported $0.21 EPS 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 have recently made changes to their positions in the company. Barclays PLC purchased a new stake in shares of Innovative Solutions and Support during the third quarter valued at approximately $32,000. James Investment Research Inc. purchased a new stake in Innovative Solutions and Support during the 3rd quarter valued at $68,000. Corsair Capital Management L.P. purchased a new stake in Innovative Solutions and Support during the 3rd quarter valued at $155,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 purchasing an additional 9,888 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in 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 purchasing an additional 18,585 shares during the last quarter. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut 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.