Alps Advisors Inc. Makes New $509,000 Investment in Innovex International, Inc. $INVX

Alps Advisors Inc. purchased a new position in shares of Innovex International, Inc. (NYSE:INVX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,440 shares of the company’s stock, valued at approximately $509,000.

Several other hedge funds have also made changes to their positions in the business. Lesa Sroufe & Co grew its position in shares of Innovex International by 0.5% in the third quarter. Lesa Sroufe & Co now owns 114,980 shares of the company’s stock valued at $2,132,000 after purchasing an additional 561 shares during the period. Intech Investment Management LLC boosted its stake in Innovex International by 4.4% in the 2nd quarter. Intech Investment Management LLC now owns 23,452 shares of the company’s stock worth $366,000 after buying an additional 978 shares during the last quarter. Arizona State Retirement System boosted its stake in Innovex International by 10.9% in the 3rd quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock worth $208,000 after buying an additional 1,104 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Innovex International by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company’s stock valued at $379,000 after buying an additional 1,467 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its stake in shares of Innovex International by 23.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,550 shares of the company’s stock valued at $134,000 after acquiring an additional 1,639 shares during the last quarter.

Insider Activity

In related news, insider Mark Reddout sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the sale, the insider directly owned 129,436 shares in the company, valued at approximately $3,235,900. This trade represents a 13.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Adam Anderson sold 13,241 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $25.00, for a total value of $331,025.00. Following the transaction, the chief executive officer directly owned 498,822 shares in the company, valued at $12,470,550. This trade represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 43.90% of the stock is owned by corporate insiders.

Innovex International Stock Down 3.2%

Shares of Innovex International stock opened at $24.64 on Friday. Innovex International, Inc. has a twelve month low of $11.93 and a twelve month high of $26.65. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 16.76 and a beta of 0.75. The company has a current ratio of 4.78, a quick ratio of 2.93 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average price of $23.66 and a 200 day moving average price of $20.36.

Analyst Ratings Changes

Several brokerages have recently weighed in on INVX. Piper Sandler increased their price objective on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innovex International in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

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.