Innovex International, Inc. $INVX Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC decreased its stake in Innovex International, Inc. (NYSE:INVX) by 25.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,829 shares of the company’s stock after selling 33,344 shares during the quarter. Legato Capital Management LLC owned approximately 0.14% of Innovex International worth $2,161,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of INVX. AQR Capital Management LLC acquired a new stake in shares of Innovex International in the first quarter valued at about $269,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 during the last quarter. Caxton Associates LLP purchased a new position in Innovex International in the 1st quarter worth approximately $270,000. Empowered Funds LLC lifted its stake in 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 purchasing an additional 4,386 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in 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 purchasing an additional 10,401 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research raised shares of Innovex International from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Barclays raised their target price on shares of Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Citigroup assumed coverage on shares of Innovex International in a research note on Thursday, May 7th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of Innovex International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.67.

Insider Activity

In other news, CEO Adam Anderson sold 18,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $28.50, for a total value of $536,854.50. Following the sale, the chief executive officer directly owned 466,744 shares of the company’s stock, valued at approximately $13,302,204. The trade was a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the completion of the sale, the director directly owned 399 shares in the company, valued at $9,811.41. This trade represents a 99.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 13,257,078 shares of company stock valued at $326,097,112. Company insiders own 34.90% of the company’s stock.

Innovex International Stock Performance

NYSE:INVX opened at $30.00 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.10 and a quick ratio of 3.38. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 40.00 and a beta of 0.84. The company’s 50-day moving average is $26.40 and its two-hundred day moving average is $24.63. Innovex International, Inc. has a 1-year low of $13.44 and a 1-year high of $32.25.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The company had revenue of $273.60 million during the quarter, compared to analysts’ expectations of $240.00 million. Innovex International had a net margin of 5.31% and a return on equity of 6.72%. Analysts forecast that Innovex International, Inc. will post 1.44 EPS for the current year.

Innovex International 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.