Amberjack Capital Partners, L. Sells 5,000,000 Shares of Innovex International (NYSE:INVX) Stock

Innovex International, Inc. (NYSE:INVX) Director Amberjack Capital Partners, L. sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $28.71, for a total value of $143,550,000.00. Following the completion of the sale, the director directly owned 311 shares in the company, valued at approximately $8,928.81. The trade was a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Innovex International Price Performance

Shares of INVX stock traded up $0.96 during trading hours on Monday, hitting $29.06. 1,864,194 shares of the company’s stock were exchanged, compared to its average volume of 517,607. The company has a quick ratio of 3.32, a current ratio of 5.01 and a debt-to-equity ratio of 0.02. The firm has a market cap of $2.03 billion, a P/E ratio of 32.65 and a beta of 0.83. The firm has a 50 day moving average of $26.60 and a two-hundred day moving average of $26.37. Innovex International, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $33.71.

Innovex International (NYSE:INVX) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The firm had revenue of $244.90 million for the quarter, compared to analysts’ expectations of $241.58 million. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. Sell-side analysts forecast that Innovex International, Inc. will post 1.44 EPS for the current year.

Analyst Upgrades and Downgrades

INVX has been the subject of a number of research reports. Weiss Ratings raised shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Wall Street Zen raised shares of Innovex International from a “hold” rating to a “buy” rating in a research note on Sunday. Barclays lifted their price objective on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Citigroup assumed coverage on Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 target price for the company. Finally, Jefferies Financial Group upgraded Innovex International to a “strong-buy” rating in a research report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Innovex International has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Hedge Funds Weigh In On Innovex International

Large investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in Innovex International in the 4th quarter valued at about $44,000. USA Financial Formulas acquired a new stake in shares of Innovex International during the first quarter valued at about $53,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Innovex International during the fourth quarter valued at about $55,000. Tower Research Capital LLC TRC raised its stake in shares of Innovex International by 418.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company’s stock valued at $55,000 after acquiring an additional 2,843 shares during the period. Finally, Covestor Ltd raised its stake in shares of Innovex International by 77.7% in the 4th quarter. Covestor Ltd now owns 3,284 shares of the company’s stock valued at $72,000 after acquiring an additional 1,436 shares during the period.

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.