Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Christopher Harborne Sells 69,599 Shares

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 69,599 shares of the stock in a transaction that occurred 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. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 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 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 stock was sold at an average price of $10.16, for a total transaction of $101,600.00.

Innovative Solutions and Support Stock Performance

NASDAQ ISSC opened at $11.14 on Monday. The business’s 50 day moving average price is $8.43 and its 200-day moving average price is $7.32. Innovative Solutions and Support, Inc. has a fifty-two week low of $4.91 and a fifty-two week high of $11.50. The company 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 posted its quarterly earnings data 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%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a report on Sunday, January 5th.

Institutional Trading of Innovative Solutions and Support

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC bought a new position in shares of Innovative Solutions and Support during the third quarter valued at approximately $32,000. James Investment Research Inc. bought a new position in Innovative Solutions and Support in the 3rd quarter valued at $68,000. Corsair Capital Management L.P. purchased a new stake in Innovative Solutions and Support in the third quarter worth $155,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Innovative Solutions and Support by 29.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after purchasing an additional 9,888 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Innovative Solutions and Support by 42.2% during the second 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 period. 28.53% of the stock is owned by hedge funds and other institutional investors.

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.