Insider Selling: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Sells 7,086 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 7,086 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $11.17, for a total transaction of $79,150.62. Following the sale, the insider now directly owns 2,417,771 shares in the company, valued at $27,006,502.07. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major 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 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 value of $101,600.00.

Innovative Solutions and Support Price Performance

ISSC stock traded up $0.57 during mid-day trading on Friday, hitting $11.67. The company had a trading volume of 23,900 shares, compared to its average volume of 247,135. The company has a 50-day moving average price of $8.72 and a 200 day moving average price of $7.45. Innovative Solutions and Support, Inc. has a 12-month low of $4.91 and a 12-month high of $11.50. The company has a market capitalization of $204.69 million, a price-to-earnings ratio of 28.82 and a beta of 1.00. The company has a quick ratio of 3.02, a current ratio of 4.77 and a debt-to-equity ratio of 0.60.

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

Hedge Funds Weigh In On Innovative Solutions and Support

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC purchased a new position in shares of Innovative Solutions and Support in the 3rd quarter valued at $32,000. James Investment Research Inc. acquired a new stake in Innovative Solutions and Support during the 3rd quarter valued at approximately $68,000. Corsair Capital Management L.P. acquired a new stake in shares of Innovative Solutions and Support in the third quarter worth $155,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Innovative Solutions and Support by 29.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,040 shares of the aerospace company’s stock worth $287,000 after acquiring an additional 9,888 shares during the period. Finally, Pekin Hardy Strauss Inc. acquired a new position in Innovative Solutions and Support during the third quarter valued at $466,000. Institutional investors own 28.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a 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.