Connor Clark & Lunn Investment Management Ltd. Purchases 88,442 Shares of Innovative Solutions and Support, Inc. $ISSC

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Innovative Solutions and Support, Inc. (NASDAQ:ISSC) by 155.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 145,389 shares of the aerospace company’s stock after acquiring an additional 88,442 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.83% of Innovative Solutions and Support worth $2,018,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. HighTower Advisors LLC raised its stake in Innovative Solutions and Support by 4.0% in the 1st quarter. HighTower Advisors LLC now owns 48,987 shares of the aerospace company’s stock worth $308,000 after purchasing an additional 1,880 shares in the last quarter. Meixler Investment Management Ltd. raised its position in shares of Innovative Solutions and Support by 31.4% in the second quarter. Meixler Investment Management Ltd. now owns 15,275 shares of the aerospace company’s stock valued at $212,000 after buying an additional 3,650 shares in the last quarter. American Century Companies Inc. bought a new stake in shares of Innovative Solutions and Support in the first quarter valued at approximately $64,000. Pekin Hardy Strauss Inc. grew its position in Innovative Solutions and Support by 10.7% during the second quarter. Pekin Hardy Strauss Inc. now owns 113,500 shares of the aerospace company’s stock worth $1,575,000 after buying an additional 11,000 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Innovative Solutions and Support by 53.5% during the 1st quarter. Jane Street Group LLC now owns 48,250 shares of the aerospace company’s stock worth $303,000 after acquiring an additional 16,808 shares during the period. 28.53% of the stock is currently owned by institutional investors and hedge funds.

Innovative Solutions and Support Stock Performance

Shares of Innovative Solutions and Support stock opened at $8.54 on Monday. The company’s 50 day moving average price is $10.85 and its two-hundred day moving average price is $12.13. The firm has a market capitalization of $150.62 million, a P/E ratio of 12.94 and a beta of 0.77. Innovative Solutions and Support, Inc. has a fifty-two week low of $5.30 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.53 and a quick ratio of 1.69.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Innovative Solutions and Support in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Innovative Solutions and Support currently has a consensus rating of “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.