74,700 Shares of Innovative Solutions and Support, Inc. $IA Bought by Pekin Hardy Strauss Inc.

by · The Markets Daily

Pekin Hardy Strauss Inc. purchased a new position in shares of Innovative Solutions and Support, Inc. (NASDAQ:IA – Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 74,700 shares of the company’s stock, valued at approximately $1,387,000. Pekin Hardy Strauss Inc. owned approximately 0.42% of Innovative Solutions and Support at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. State Street Corp bought a new stake in shares of Innovative Solutions and Support in the 2nd quarter valued at approximately $3,407,000. Isthmus Partners LLC acquired a new position in Innovative Solutions and Support in the third quarter worth approximately $3,181,000. Squarepoint Ops LLC bought a new position in Innovative Solutions and Support during the second quarter valued at approximately $1,868,000. Commonwealth Equity Services LLC bought a new position in Innovative Solutions and Support during the third quarter valued at approximately $405,000. Finally, NewEdge Advisors LLC bought a new position in Innovative Solutions and Support during the second quarter valued at approximately $367,000. 28.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on IA. Zacks Research downgraded shares of Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 16th. Wall Street Zen downgraded shares of Innovative Solutions and Support from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Weiss Ratings upgraded shares of Innovative Solutions and Support from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Read Our Latest Analysis on IA

Innovative Solutions and Support Stock Performance

Shares of IA traded up $1.33 during trading hours on Friday, hitting $19.45. 235,490 shares of the company were exchanged, compared to its average volume of 209,446. The company has a market capitalization of $348.15 million, a P/E ratio of 18.52 and a beta of 0.64. The company’s 50 day simple moving average is $19.22. Innovative Solutions and Support, Inc. has a 52 week low of $8.13 and a 52 week high of $30.94. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.49 and a current ratio of 2.97.

Innovative Solutions and Support (NASDAQ:IA – Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.33 earnings per share for the quarter. Innovative Solutions and Support had a return on equity of 30.53% and a net margin of 20.50%. The business had revenue of $26.73 million for the quarter. As a group, equities analysts forecast that Innovative Solutions and Support, Inc. will post 1.03 earnings per share for the current fiscal year.

Innovative Solutions and Support Company Profile

(Free Report)

Innovative Solutions and Support, Inc (NASDAQ: IA) is an aerospace technology company that develops, manufactures and supports avionics and cockpit systems. Its products are designed for commercial air transport, business and general aviation, and military aircraft.

The company’s offerings include advanced flight displays, electronic flight instrument systems, air data and navigation systems, integrated cockpit solutions, and other aircraft instrumentation and avionics. Innovative Solutions and Support serves both original-equipment manufacturers and aircraft operators, including customers seeking to upgrade or modernize existing aircraft.

Founded in 1988 and headquartered in Exton, Pennsylvania, the company provides products and support for aircraft operating in domestic and international markets.

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