Madison Avenue Partners LP Raises Position in Innovex International, Inc. (NYSE:INVX)

Madison Avenue Partners LP grew its holdings in Innovex International, Inc. (NYSE:INVX) by 64.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,686,476 shares of the company’s stock after acquiring an additional 662,009 shares during the period. Innovex International comprises approximately 2.5% of Madison Avenue Partners LP’s portfolio, making the stock its 11th largest position. Madison Avenue Partners LP’s holdings in Innovex International were worth $23,560,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Barclays PLC purchased a new position in Innovex International in the third quarter worth approximately $874,000. JPMorgan Chase & Co. purchased a new stake in shares of Innovex International during the 3rd quarter worth $2,261,000. Moody National Bank Trust Division purchased a new stake in shares of Innovex International during the 4th quarter worth $234,000. Sanctuary Advisors LLC grew its stake in shares of Innovex International by 20.5% during the fourth quarter. Sanctuary Advisors LLC now owns 47,146 shares of the company’s stock worth $659,000 after purchasing an additional 8,008 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in Innovex International in the fourth quarter valued at $193,000.

Innovex International Price Performance

Shares of INVX opened at $15.18 on Wednesday. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Innovex International, Inc. has a 1-year low of $11.93 and a 1-year high of $19.51. The stock has a market capitalization of $1.05 billion, a PE ratio of 10.77 and a beta of 0.80. The company has a fifty day moving average of $16.34.

Innovex International (NYSE:INVX) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The firm had revenue of $240.42 million during the quarter, compared to analysts’ expectations of $247.73 million. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

Analyst Ratings Changes

Several brokerages have recently weighed in on INVX. Pickering Energy Partners raised Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays dropped their price target on shares of Innovex International from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th.

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.