Heartland Advisors Inc. Invests $3.71 Million in Innovex International, Inc. $INVX

Heartland Advisors Inc. bought a new stake in Innovex International, Inc. (NYSE:INVX) during the 3rd quarter, HoldingsChannel reports. The fund bought 200,000 shares of the company’s stock, valued at approximately $3,708,000.

Several other hedge funds have also recently added to or reduced their stakes in INVX. AQR Capital Management LLC acquired a new position in shares of Innovex International during the first quarter valued at $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Innovex International by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after buying an additional 1,467 shares during the period. Caxton Associates LLP bought a new stake in shares of Innovex International during the 1st quarter worth about $270,000. Empowered Funds LLC lifted its stake in shares of Innovex International by 8.2% in the 1st quarter. Empowered Funds LLC now owns 58,131 shares of the company’s stock worth $1,044,000 after acquiring an additional 4,386 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Innovex International by 11.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,225 shares of the company’s stock worth $1,764,000 after acquiring an additional 10,401 shares during the period.

Analyst Ratings Changes

Several brokerages recently commented on INVX. Weiss Ratings reissued a “buy (b-)” rating on shares of Innovex International in a report on Monday, December 29th. Piper Sandler upped their price target on shares of Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Innovex International has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Innovex International Stock Down 1.0%

Shares of INVX opened at $24.52 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.93 and a current ratio of 4.78. The company has a 50-day simple moving average of $23.75 and a 200-day simple moving average of $20.57. Innovex International, Inc. has a 52 week low of $11.93 and a 52 week high of $26.65. The firm has a market capitalization of $1.69 billion, a P/E ratio of 16.68 and a beta of 0.75.

Insiders Place Their Bets

In related news, insider Mark Reddout sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $500,000.00. Following the sale, the insider owned 129,436 shares of the company’s stock, valued at $3,235,900. The trade was a 13.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam Anderson sold 13,241 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total value of $331,025.00. Following the transaction, the chief executive officer owned 498,822 shares of the company’s stock, valued at $12,470,550. This trade represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 43.90% of the company’s stock.

Innovex International Company Profile

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.