HighTower Advisors LLC Acquires 1,880 Shares of Innovative Solutions and Support, Inc. $ISSC

HighTower Advisors LLC boosted its holdings in shares of Innovative Solutions and Support, Inc. (NASDAQ:ISSC) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,987 shares of the aerospace company’s stock after purchasing an additional 1,880 shares during the period. HighTower Advisors LLC owned about 0.28% of Innovative Solutions and Support worth $308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Isthmus Partners LLC lifted its stake in Innovative Solutions and Support by 0.8% during the first quarter. Isthmus Partners LLC now owns 192,048 shares of the aerospace company’s stock worth $1,208,000 after purchasing an additional 1,588 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Innovative Solutions and Support by 9.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 45,618 shares of the aerospace company’s stock worth $287,000 after purchasing an additional 4,038 shares during the last quarter. Millennium Management LLC lifted its stake in Innovative Solutions and Support by 23.1% during the fourth quarter. Millennium Management LLC now owns 26,391 shares of the aerospace company’s stock worth $225,000 after purchasing an additional 4,951 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Innovative Solutions and Support by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 432,030 shares of the aerospace company’s stock worth $3,690,000 after purchasing an additional 10,061 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Innovative Solutions and Support during the fourth quarter worth $89,000. 28.53% of the stock is currently owned by institutional investors.

Innovative Solutions and Support Stock Down 4.4%

Shares of NASDAQ:ISSC opened at $12.38 on Wednesday. The firm has a market cap of $218.26 million, a P/E ratio of 18.76 and a beta of 0.80. The company has a quick ratio of 1.69, a current ratio of 3.53 and a debt-to-equity ratio of 0.41. Innovative Solutions and Support, Inc. has a 12-month low of $5.30 and a 12-month high of $20.00. The business has a fifty day simple moving average of $14.84 and a 200 day simple moving average of $10.49.

Innovative Solutions and Support (NASDAQ:ISSC) last announced its earnings results on Thursday, August 14th. The aerospace company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The company had revenue of $24.15 million for the quarter, compared to the consensus estimate of $19.20 million. Innovative Solutions and Support had a return on equity of 23.86% and a net margin of 15.10%.

Insider Transactions at Innovative Solutions and Support

In related news, major shareholder Christopher Harborne sold 145,009 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was sold at an average price of $13.69, for a total transaction of $1,985,173.21. Following the completion of the transaction, the insider directly owned 1,583,411 shares of the company’s stock, valued at $21,676,896.59. This trade represents a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 644,731 shares of company stock worth $8,307,249. 4.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ISSC. Wall Street Zen cut Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research note on Sunday, August 24th. Singular Research upgraded Innovative Solutions and Support to a “strong-buy” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Innovative Solutions and Support has a consensus rating of “Strong Buy”.

Innovative Solutions and Support 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.