Gamco Investors INC. ET AL Sells 52,953 Shares of Innovex International, Inc. $INVX

Gamco Investors INC. ET AL trimmed its position in shares of Innovex International, Inc. (NYSE:INVX) by 2.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,981,343 shares of the company’s stock after selling 52,953 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Innovex International were worth $43,332,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Innovex International by 52.4% during the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after purchasing an additional 837,027 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Innovex International during the fourth quarter valued at approximately $12,702,000. Bridgeway Capital Management LLC grew its stake in shares of Innovex International by 371.9% during the second 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 during the last quarter. Avidian Wealth Enterprises LLC bought a new stake in shares of Innovex International during the fourth quarter valued at approximately $5,821,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Innovex International by 12.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,153,272 shares of the company’s stock valued at $39,921,000 after purchasing an additional 230,393 shares during the last quarter.

Innovex International Price Performance

Shares of INVX stock opened at $27.95 on Monday. Innovex International, Inc. has a 52-week low of $13.44 and a 52-week high of $29.48. The stock has a market cap of $1.92 billion, a PE ratio of 37.27 and a beta of 0.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. The firm’s 50 day moving average price is $26.00 and its two-hundred day moving average price is $24.30.

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 analysts’ consensus estimates of $0.29 by ($0.09). Innovex International had a net margin of 5.31% and a return on equity of 6.72%. The business had revenue of $273.60 million during the quarter, compared to the consensus estimate of $240.00 million. As a group, analysts forecast that Innovex International, Inc. will post 1.32 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup assumed coverage on shares of Innovex International in a research note on Thursday, May 7th. They set a “buy” rating and a $35.00 price target on the stock. Barclays increased their price target on shares of Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Zacks Research cut shares of Innovex International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings cut shares of Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Two equities research analysts have 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.33.

Insiders Place Their Bets

In other Innovex International news, Director Amberjack Capital Partners, L. 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 value of $162,601,375.00. Following the sale, the director directly owned 399 shares in the company, valued at approximately $9,811.41. This trade represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam Anderson sold 18,837 shares of the 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 sale, the chief executive officer owned 466,744 shares in the company, valued at approximately $13,302,204. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 13,257,078 shares of company stock worth $326,097,112. Company insiders own 34.90% 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.