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

Pekin Hardy Strauss Inc. bought a new position in shares of Innovative Solutions and Support, Inc. (NASDAQ:IA) in the third quarter, HoldingsChannel.com reports. The firm bought 74,700 shares of the company’s stock, valued at approximately $1,387,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IA. Triumph Capital Management boosted its holdings in Innovative Solutions and Support by 80.6% during the third quarter. Triumph Capital Management now owns 1,400 shares of the company’s stock valued at $26,000 after acquiring an additional 625 shares during the period. Integrity Alliance LLC. bought a new position in shares of Innovative Solutions and Support in the third quarter worth about $188,000. WINTON GROUP Ltd bought a new position in shares of Innovative Solutions and Support in the second quarter worth about $265,000. Engineers Gate Manager LP bought a new position in shares of Innovative Solutions and Support in the second quarter worth about $325,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Innovative Solutions and Support during the 2nd quarter worth about $367,000. Institutional investors and hedge funds own 28.53% of the company’s stock.

Innovative Solutions and Support Trading Up 7.3%

NASDAQ:IA traded up $1.33 during trading hours on Friday, hitting $19.45. 235,490 shares of the company traded hands, compared to its average volume of 209,446. The company has a market capitalization of $348.15 million, a PE ratio of 18.52 and a beta of 0.64. Innovative Solutions and Support, Inc. has a twelve month low of $8.13 and a twelve month high of $30.94. The stock’s 50-day moving average price is $19.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.97 and a quick ratio of 1.49.

Innovative Solutions and Support (NASDAQ:IA) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.33 earnings per share for the quarter. The firm had revenue of $26.73 million during the quarter. Innovative Solutions and Support had a net margin of 20.50% and a return on equity of 30.53%. Equities research analysts predict that Innovative Solutions and Support, Inc. will post 1.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IA has been the subject of several recent analyst reports. Weiss Ratings upgraded Innovative Solutions and Support from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research lowered Innovative Solutions and Support from a “strong-buy” rating to a “hold” rating in a report on Friday, October 16th. Finally, Wall Street Zen downgraded Innovative Solutions and Support from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Innovative Solutions and Support currently has an average rating of “Moderate Buy”.

Innovative Solutions and Support Profile

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.