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 stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $11.21, for a total transaction of $710,355.28. Following the transaction, the insider now owns 2,311,615 shares of the company’s stock, valued at approximately $25,913,204.15. This represents a 2.67 % 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 at least 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 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 Stock Down 5.4 %

Innovative Solutions and Support stock opened at $11.27 on Friday. The company’s 50-day moving average price is $9.03 and its two-hundred day moving average price is $7.64. The company has a quick ratio of 3.02, a current ratio of 4.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $197.68 million, a P/E ratio of 28.18 and a beta of 1.03. Innovative Solutions and Support, Inc. has a twelve month low of $4.91 and a twelve month high of $12.17.

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 (EPS) for the quarter. Innovative Solutions and Support had a net margin of 14.83% and a return on equity of 18.32%.

Institutional Investors Weigh In On Innovative Solutions and Support

Hedge funds have recently bought and sold shares of the stock. Barclays PLC acquired a new stake in Innovative Solutions and Support during the third quarter worth approximately $32,000. James Investment Research Inc. acquired a new stake in Innovative Solutions and Support during the third quarter worth approximately $68,000. Corsair Capital Management L.P. acquired a new stake in Innovative Solutions and Support during the third quarter worth approximately $155,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in 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 acquiring an additional 9,888 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Innovative Solutions and Support in the third quarter valued at approximately $466,000. 28.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research note 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.