Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 63,368 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 63,368 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $11.21, for a total value of $710,355.28. Following the completion of the transaction, the insider now owns 2,311,615 shares in the company, valued at approximately $25,913,204.15. This represents a 2.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Christopher Harborne also recently made the following trade(s):

• On Thursday, January 30th, Christopher Harborne sold 7,086 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.17, for a total transaction of $79,150.62.
• On Thursday, January 23rd, Christopher Harborne sold 69,599 shares of Innovative Solutions and Support stock. The shares were sold at an average price of $11.21, for a total transaction of $780,204.79.
• 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 stock was sold at an average price of $10.16, for a total value of $101,600.00.

Innovative Solutions and Support Stock Performance

Shares of NASDAQ ISSC traded up $0.23 during mid-day trading on Wednesday, reaching $11.60. 79,138 shares of the company were exchanged, compared to its average volume of 259,088. Innovative Solutions and Support, Inc. has a twelve month low of $4.91 and a twelve month high of $12.17. The company has a quick ratio of 3.02, a current ratio of 4.77 and a debt-to-equity ratio of 0.60. The company’s 50-day simple moving average is $8.94 and its 200-day simple moving average is $7.61. The stock has a market capitalization of $203.46 million, a P/E ratio of 29.00 and a beta of 1.03.

Innovative Solutions and Support (NASDAQ:ISSC) last released 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 return on equity of 18.32% and a net margin of 14.83%.

Hedge Funds Weigh In On Innovative Solutions and Support

Hedge funds have recently bought and sold shares of the company. Barclays PLC acquired a new stake in shares of Innovative Solutions and Support during the 3rd quarter worth approximately $32,000. James Investment Research Inc. bought a new stake in Innovative Solutions and Support during the third quarter worth $68,000. Corsair Capital Management L.P. acquired a new stake in shares of Innovative Solutions and Support in the 3rd quarter valued at $155,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of 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 valued at $287,000 after purchasing an additional 9,888 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of Innovative Solutions and Support during the 3rd quarter worth $466,000. 28.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research note on Monday.

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.