Amberjack Capital Partners, L. Sells 6,612,500 Shares of Innovex International (NYSE:INVX) Stock

Innovex International, Inc. (NYSE:INVX) Director Amberjack Capital Partners, L. sold 6,612,500 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the sale, the director 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

Innovex International Price Performance

Shares of NYSE INVX opened at $26.39 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.91 and a quick ratio of 2.93. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 21.99 and a beta of 0.75. The stock’s 50-day moving average is $24.48 and its two-hundred day moving average is $21.14. Innovex International, Inc. has a 1-year low of $11.93 and a 1-year high of $29.48.

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 the consensus estimate of $0.29 by ($0.09). Innovex International had a net margin of 8.52% and a return on equity of 6.55%. The company had revenue of $273.60 million during the quarter, compared to analysts’ expectations of $240.00 million.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Piper Sandler raised their price objective 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. Weiss Ratings cut Innovex International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Institutional Investors Weigh In On Innovex International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its stake in Innovex International by 31.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company’s stock valued at $40,000 after acquiring an additional 511 shares in the last quarter. Lesa Sroufe & Co increased its position in shares of Innovex International by 0.5% during the third quarter. Lesa Sroufe & Co now owns 114,980 shares of the company’s stock worth $2,132,000 after purchasing an additional 561 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Innovex International by 4.4% in the 2nd quarter. Intech Investment Management LLC now owns 23,452 shares of the company’s stock valued at $366,000 after purchasing an additional 978 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Innovex International by 10.9% in the 3rd quarter. Arizona State Retirement System now owns 11,226 shares of the company’s stock valued at $208,000 after purchasing an additional 1,104 shares during the period. Finally, Covestor Ltd boosted its position 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 purchasing 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.