Tudor Investment Corp ET AL Cuts Stock Position in Innovex International, Inc. $INVX

Tudor Investment Corp ET AL cut its holdings in shares of Innovex International, Inc. (NYSE:INVX) by 68.9% during the third quarter, HoldingsChannel.com reports. The firm owned 27,322 shares of the company’s stock after selling 60,449 shares during the period. Tudor Investment Corp ET AL’s holdings in Innovex International were worth $507,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Innovex International by 52.4% during the 3rd quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock worth $45,141,000 after acquiring an additional 837,027 shares during the period. Bridgeway Capital Management LLC grew its stake 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 worth $5,376,000 after purchasing an additional 271,247 shares during the period. Dimensional Fund Advisors LP increased its holdings in Innovex International by 12.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,153,272 shares of the company’s stock valued at $39,921,000 after buying an additional 230,393 shares in the last quarter. Heartland Advisors Inc. acquired a new position in Innovex International in the 3rd quarter worth about $3,708,000. Finally, First Trust Advisors LP acquired a new position in shares of Innovex International during the 2nd quarter worth approximately $2,871,000.

Insider Transactions at Innovex International

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 completion of the transaction, the chief executive officer owned 466,744 shares of the company’s stock, valued at $13,302,204. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $24.59, for a total value of $162,601,375.00. Following the completion of the sale, the director directly owned 399 shares in the company, valued at approximately $9,811.41. The trade was a 99.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 13,290,319 shares of company stock worth $326,928,137. Corporate insiders own 43.90% of the company’s stock.

Innovex International Stock Performance

Shares of INVX opened at $24.27 on Thursday. 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 cap of $1.66 billion, a PE ratio of 20.23 and a beta of 0.75. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $29.48. The company’s 50 day simple moving average is $25.41 and its 200-day simple moving average is $22.50.

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

Wall Street Analyst Weigh In

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

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.