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

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 63,368 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $11.21, for a total transaction of $710,355.28. Following the sale, the insider now owns 2,311,615 shares of the company’s stock, valued at $25,913,204.15. The trade was a 2.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 shares were 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 shares were sold at an average price of $10.16, for a total transaction of $101,600.00.

Innovative Solutions and Support Price Performance

Shares of NASDAQ ISSC opened at $11.27 on Friday. The firm has a market cap of $197.68 million, a PE ratio of 28.18 and a beta of 1.03. 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 1-year low of $4.91 and a 1-year high of $12.17. The company has a fifty day moving average price of $9.03 and a 200 day moving average price of $7.64.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ISSC. Barclays PLC acquired a new position in Innovative Solutions and Support in the 3rd quarter worth $32,000. James Investment Research Inc. acquired a new position in shares of Innovative Solutions and Support during the 3rd quarter worth about $68,000. Corsair Capital Management L.P. acquired a new position in shares of Innovative Solutions and Support during the 3rd quarter worth about $155,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake 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 worth $287,000 after buying 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 about $466,000. 28.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

About Innovative Solutions and Support

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.