Balyasny Asset Management L.P. Cuts Stock Position in Innovex International, Inc. (NYSE:INVX)

Balyasny Asset Management L.P. reduced its position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 83.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 62,424 shares of the company's stock after selling 315,126 shares during the quarter. Balyasny Asset Management L.P. owned about 0.09% of Innovex International worth $872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brandes Investment Partners LP lifted its position in Innovex International by 41.3% in the fourth quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock worth $88,068,000 after buying an additional 1,841,686 shares during the last quarter. Vanguard Group Inc. lifted its position in Innovex International by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company's stock worth $59,554,000 after buying an additional 221,598 shares during the last quarter. Invesco Ltd. lifted its position in Innovex International by 175.8% in the fourth quarter. Invesco Ltd. now owns 332,468 shares of the company's stock worth $4,645,000 after buying an additional 211,907 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Innovex International in the third quarter worth $2,261,000. Finally, CenterBook Partners LP lifted its position in Innovex International by 136.2% in the fourth quarter. CenterBook Partners LP now owns 254,149 shares of the company's stock worth $3,550,000 after buying an additional 146,544 shares during the last quarter.

Analyst Ratings Changes

Separately, Barclays decreased their target price on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a research report on Friday, May 9th.

Innovex International Price Performance

Shares of NYSE:INVX traded down $0.02 on Tuesday, hitting $14.67. 44,480 shares of the company's stock were exchanged, compared to its average volume of 403,096. Innovex International, Inc. has a 12 month low of $11.93 and a 12 month high of $19.42. The company has a market capitalization of $1.01 billion, a PE ratio of 10.40 and a beta of 0.80. The stock's 50 day simple moving average is $16.08. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17.

Innovex International (NYSE:INVX - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The business had revenue of $240.42 million for the quarter, compared to the consensus estimate of $247.73 million.

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.