Dean Capital Management Lowers Stock Holdings in Innovex International, Inc. $INVX

Dean Capital Management cut its position in Innovex International, Inc. (NYSE:INVX) by 22.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 139,656 shares of the company’s stock after selling 40,528 shares during the period. Innovex International makes up 1.0% of Dean Capital Management’s portfolio, making the stock its 26th biggest holding. Dean Capital Management’s holdings in Innovex International were worth $2,589,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have recently commented on INVX shares. Zacks Research lowered shares of Innovex International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Barclays increased their target price on shares of Innovex International from $20.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Piper Sandler increased their target price on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Finally, Weiss Ratings cut shares of Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.50.

Innovex International Price Performance

Shares of NYSE INVX opened at $24.20 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 3.24. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 20.16 and a beta of 0.72. The stock’s 50-day moving average is $25.26 and its two-hundred day moving average is $21.84. Innovex International, Inc. has a 1-year low of $11.93 and a 1-year high of $29.48.

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

Insider Activity

In other Innovex International news, insider Mark Reddout sold 20,000 shares of the stock in a transaction that occurred on 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 directly owned 129,436 shares of the company’s stock, valued at approximately $3,235,900. This represents a 13.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Adam Anderson sold 18,837 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total transaction of $536,854.50. Following the completion of the sale, the chief executive officer owned 466,744 shares in the company, valued at $13,302,204. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,290,319 shares of company stock worth $326,928,137 in the last ninety days. 43.90% of the stock is owned by insiders.

About Innovex International

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.