Gamco Investors INC. ET AL Sells 73,025 Shares of Innovex International, Inc. $INVX

Gamco Investors INC. ET AL trimmed its stake in shares of Innovex International, Inc. (NYSE:INVX) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,034,296 shares of the company’s stock after selling 73,025 shares during the period. Gamco Investors INC. ET AL owned approximately 2.95% of Innovex International worth $37,716,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in Innovex International by 26,300.0% in the third quarter. Covestor Ltd now owns 1,848 shares of the company’s stock worth $34,000 after purchasing an additional 1,841 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after buying an additional 511 shares during the last quarter. Westfuller Advisors LLC purchased a new stake in Innovex International during the 3rd quarter valued at $53,000. First Horizon Advisors Inc. lifted its holdings in shares of Innovex International by 150.3% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after buying an additional 2,022 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after buying an additional 2,843 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on INVX shares. Weiss Ratings lowered Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 27th. Piper Sandler increased their target price on Innovex International from $20.00 to $27.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Barclays raised their target price on Innovex International from $20.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Zacks Research downgraded Innovex International from a “hold” rating to a “strong sell” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.50.

Innovex International Stock Up 1.8%

Shares of INVX stock opened at $27.40 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 12 month low of $11.93 and a 12 month high of $29.48. The stock has a market cap of $1.89 billion, a P/E ratio of 22.83 and a beta of 0.72. The company has a 50 day simple moving average of $24.93 and a two-hundred day simple moving average of $21.46.

Innovex International (NYSE:INVX) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.09). Innovex International had a return on equity of 6.55% and a net margin of 8.52%.The business had revenue of $273.60 million for the quarter, compared to analysts’ expectations of $240.00 million.

Insider Buying and Selling

In related news, CEO Adam Anderson sold 18,837 shares of Innovex International stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total transaction of $536,854.50. Following the transaction, the chief executive officer directly owned 466,744 shares in the company, valued at approximately $13,302,204. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $24.59, for a total value of $162,601,375.00. Following the sale, the director directly owned 399 shares of the company’s stock, valued at $9,811.41. This represents a 99.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,290,319 shares of company stock valued at $326,928,137 in the last 90 days. 43.90% of the stock is owned by company insiders.

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.