Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells $101,600.00 in Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 10,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $10.16, for a total transaction of $101,600.00. Following the completion of the sale, the insider now owns 2,599,769 shares in the company, valued at $26,413,653.04. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 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 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 shares were sold at an average price of $10.82, for a total transaction of $1,066,852.00.

Innovative Solutions and Support Stock Down 0.9 %

Shares of NASDAQ ISSC opened at $11.14 on Friday. Innovative Solutions and Support, Inc. has a 1 year low of $4.91 and a 1 year high of $11.50. The firm’s 50 day moving average price is $8.36 and its 200 day moving average price is $7.27. The firm has a market cap of $195.40 million, a P/E ratio of 27.85 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.02 and a current ratio of 4.77.

Innovative Solutions and Support (NASDAQ:ISSC) last announced 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%.

Hedge Funds Weigh In On Innovative Solutions and Support

A number of large investors have recently bought and sold shares of ISSC. Pekin Hardy Strauss Inc. purchased a new position in Innovative Solutions and Support during the third quarter worth approximately $466,000. Corsair Capital Management L.P. purchased a new position in shares of Innovative Solutions and Support in the 3rd quarter valued at $155,000. Gabelli Funds LLC raised its stake in shares of Innovative Solutions and Support by 42.2% in 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 period. James Investment Research Inc. purchased a new position in shares of Innovative Solutions and Support in the 3rd quarter valued at $68,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised 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 acquiring an additional 9,888 shares during the period. Hedge funds and other institutional investors own 28.53% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of 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.