Christopher Harborne Sells 98,600 Shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSC) major shareholder Christopher Harborne sold 98,600 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $10.82, for a total transaction of $1,066,852.00. Following the transaction, the insider now directly owns 2,501,169 shares of the company’s stock, valued at $27,062,648.58. The trade was a 3.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major 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 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 value of $101,600.00.

Innovative Solutions and Support Stock Performance

Shares of ISSC opened at $11.24 on Friday. The firm’s fifty day simple moving average is $8.29 and its two-hundred day simple moving average is $7.24. Innovative Solutions and Support, Inc. has a 12 month low of $4.91 and a 12 month high of $11.33. The company has a current ratio of 4.77, a quick ratio of 3.02 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $197.15 million, a P/E ratio of 28.10 and a beta of 1.00.

Innovative Solutions and Support (NASDAQ:ISSC) last released its earnings results on Thursday, December 19th. The aerospace company reported $0.21 EPS for the quarter. Innovative Solutions and Support had a return on equity of 18.32% and a net margin of 14.83%.

Analysts Set New Price Targets

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.

Institutional Trading of Innovative Solutions and Support

Several hedge funds have recently modified their holdings of the stock. Barclays PLC bought a new position in Innovative Solutions and Support during the third quarter worth $32,000. James Investment Research Inc. bought 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 stake in shares of Innovative Solutions and Support in the 3rd quarter valued at about $155,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Innovative Solutions and Support by 29.0% in 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 in the last quarter. Finally, Gabelli Funds LLC raised its stake in Innovative Solutions and Support by 42.2% during the 2nd quarter. Gabelli Funds LLC now owns 62,585 shares of the aerospace company’s stock worth $376,000 after buying an additional 18,585 shares during the period. Institutional investors own 28.53% of the company’s stock.

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.