Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 69,599 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 69,599 shares of Innovative Solutions and Support stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $11.21, for a total value of $780,204.79. Following the transaction, the insider now owns 2,431,570 shares of the company’s stock, valued at $27,257,899.70. The trade was a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more 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 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 value 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 transaction of $101,600.00.

Innovative Solutions and Support Stock Performance

ISSC stock opened at $11.14 on Friday. The stock’s 50 day simple moving average is $8.43 and its 200 day simple moving average is $7.30. The company has a current ratio of 4.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.60. Innovative Solutions and Support, Inc. has a 12-month low of $4.91 and a 12-month high of $11.50. The stock has a market capitalization of $195.40 million, a PE ratio of 27.85 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

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.

Hedge Funds Weigh In On Innovative Solutions and Support

Several hedge funds and other institutional investors have recently bought and sold shares of ISSC. Dimensional Fund Advisors LP grew its stake in shares of Innovative Solutions and Support by 2.1% in the second quarter. Dimensional Fund Advisors LP now owns 418,119 shares of the aerospace company’s stock worth $2,509,000 after acquiring an additional 8,760 shares during the period. Gabelli Funds LLC boosted its holdings in Innovative Solutions and Support by 42.2% in the second quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 18,585 shares during the last quarter. James Investment Research Inc. bought a new stake in Innovative Solutions and Support in the 3rd quarter worth approximately $68,000. Connor Clark & Lunn Investment Management Ltd. raised 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 buying an additional 9,888 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of Innovative Solutions and Support during the 3rd quarter valued at $466,000. Institutional investors own 28.53% of the company’s stock.

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.