In a recent transaction, Glen Bressner, a director at Innovative Solutions & Support Inc (NASDAQ:ISSC), acquired additional shares of the company's stock, according to a Form 4 filed with the Securities and Exchange Commission. The purchase, which took place over two consecutive days, involved a total of 15,000 shares with a combined value of approximately $83,408.
On May 21, Bressner purchased 12,891 shares at a weighted average price of $5.5498 per share. The following day, he added another 2,109 shares to his holdings, with these shares bought at a weighted average price of $5.6263. The prices for the purchases ranged from $5.25 to $5.65, indicating a keen interest in the company's stock at varying market values.
As a result of these transactions, Bressner's stake in Innovative Solutions & Support Inc has increased significantly, with the director now owning a total of 118,201 shares. This move by a key insider often signals confidence in the company's future prospects and may attract the attention of investors looking for signs of strong leadership belief in the company's value.
Investors and shareholders can obtain further details about the specific prices and quantities for each transaction upon request, as Bressner has committed to providing full information regarding the number of shares purchased at each separate price within the disclosed range.
The transactions were executed under the power of attorney dated April 15, 2024, and were officially signed by John D. Martini, Attorney-in-fact, on May 23, 2024.
InvestingPro Insights
In light of the recent insider purchases by Glen Bressner at Innovative Solutions & Support Inc (ISSC), it's worth noting that analysts are predicting sales growth for the company in the current year. This aligns with Bressner's actions, suggesting that he may see potential for the company's value to increase alongside its revenue. Moreover, the company's impressive gross profit margins, which stand at a robust 58.42% as of the last twelve months ending in Q2 2024, provide further optimism about the financial health and operational efficiency of ISSC.
From a valuation perspective, ISSC appears to be trading at a low P/E ratio relative to near-term earnings growth, with a current P/E ratio of 13.84 and an adjusted P/E ratio for the last twelve months of 12.98. This could indicate that the stock is undervalued, especially when considering the company's recent revenue growth of 46.14% over the same period. Despite recent market performance where the stock has fared poorly over the last month, with a price total return of -18.91%, the company's solid fundamentals may offer a compelling case for investors.
For those interested in further insights and detailed analysis, there are additional InvestingPro Tips available for ISSC at https://www.investing.com/pro/ISSC. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a wealth of financial data and expert assessments to inform their investment decisions.
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