Legato Capital Management LLC Trims Position in Innovex International, Inc. $INVX

Legato Capital Management LLC cut its stake in shares of Innovex International, Inc. (NYSE:INVX) by 16.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 132,173 shares of the company’s stock after selling 25,405 shares during the period. Legato Capital Management LLC’s holdings in Innovex International were worth $2,450,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INVX. Brandes Investment Partners LP grew its stake in Innovex International by 7.7% during the second quarter. Brandes Investment Partners LP now owns 7,054,674 shares of the company’s stock valued at $110,194,000 after acquiring an additional 504,935 shares in the last quarter. Geode Capital Management LLC lifted its stake in Innovex International by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 922,305 shares of the company’s stock worth $14,408,000 after purchasing an additional 45,174 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Innovex International by 1.9% in the 3rd quarter. Pacer Advisors Inc. now owns 388,523 shares of the company’s stock valued at $7,203,000 after purchasing an additional 7,111 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Innovex International by 371.9% during the 2nd quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock valued at $5,376,000 after purchasing an additional 271,247 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Innovex International by 294.6% in the second quarter. Empowered Funds LLC now owns 229,378 shares of the company’s stock worth $3,583,000 after purchasing an additional 171,247 shares during the period.

Insider Buying and Selling at Innovex International

In related news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the stock in a transaction 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 transaction, the director owned 399 shares of the company’s stock, valued at approximately $9,811.41. This trade represents a 99.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the chief executive officer owned 466,744 shares in the company, valued at approximately $13,302,204. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,290,319 shares of company stock worth $326,928,137 over the last 90 days. Company insiders own 43.90% of the company’s stock.

Innovex International Price Performance

Shares of Innovex International stock opened at $26.51 on Tuesday. The company has a current ratio of 4.91, a quick ratio of 3.24 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.83 billion, a PE ratio of 22.09 and a beta of 0.72. The business’s 50-day moving average price is $24.57 and its 200-day moving average price is $21.24. Innovex International, Inc. has a 12 month low of $11.93 and a 12 month high of $29.48.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Weiss Ratings downgraded Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Piper Sandler upped their target price on Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Innovex International presently has an average rating of “Moderate Buy” and an average price target of $20.00.

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.