Insider Buying: Innovative Solutions and Support, Inc. (NASDAQ:ISSC) Major Shareholder Purchases 12,971 Shares of Stock

Innovative Solutions and Support, Inc. (NASDAQ:ISSCGet Rating) major shareholder Christopher Harborne purchased 12,971 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was acquired at an average price of $8.10 per share, for a total transaction of $105,065.10. Following the completion of the transaction, the insider now owns 2,039,416 shares of the company’s stock, valued at approximately $16,519,269.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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, September 8th, Christopher Harborne purchased 45,932 shares of Innovative Solutions and Support stock. The stock was acquired at an average price of $8.83 per share, for a total transaction of $405,579.56.

Innovative Solutions and Support Trading Up 4.9 %

Shares of ISSC opened at $8.78 on Friday. The business’s 50-day moving average price is $6.94 and its 200 day moving average price is $7.56. The stock has a market capitalization of $151.63 million, a P/E ratio of 27.44 and a beta of 1.05. Innovative Solutions and Support, Inc. has a 1-year low of $5.77 and a 1-year high of $9.90.

Hedge Funds Weigh In On Innovative Solutions and Support

Institutional investors have recently bought and sold shares of the stock. Tower Bridge Advisors purchased a new position in Innovative Solutions and Support in the 1st quarter worth about $81,000. Financial Advisors LLC purchased a new position in Innovative Solutions and Support during the 1st quarter valued at about $82,000. O Shaughnessy Asset Management LLC grew its stake in Innovative Solutions and Support by 21.1% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 12,430 shares of the aerospace company’s stock valued at $89,000 after acquiring an additional 2,167 shares in the last quarter. UBS Group AG grew its stake in Innovative Solutions and Support by 8.2% during the 1st quarter. UBS Group AG now owns 15,561 shares of the aerospace company’s stock valued at $126,000 after acquiring an additional 1,177 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Innovative Solutions and Support by 85.6% during the 2nd quarter. Millennium Management LLC now owns 18,580 shares of the aerospace company’s stock valued at $134,000 after acquiring an additional 8,568 shares in the last quarter. Hedge funds and other institutional investors own 23.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Innovative Solutions and Support from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 1st.

About Innovative Solutions and Support

(Get Rating)

Innovative Solutions and Support, Inc, a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottle, 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 management systems that complement the flat panel display system upgrade for commercial air transport aircraft.

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