Dean Capital Management Sells 51,559 Shares of Innovex International, Inc. $INVX

Key Points

• Dean Capital Management reduced its Innovex International position by 35.9%, selling 51,559 shares and retaining 91,931 shares valued at approximately $2.24 million.
• Other institutional investors increased their holdings, including Dimensional Fund Advisors, which added 335,839 shares, while an Innovex insider separately sold 10,750 shares for $301,000.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $32.25 price target versus the stock’s recent price of $26.83.

Dean Capital Management cut its position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,931 shares of the company's stock after selling 51,559 shares during the quarter. Dean Capital Management owned about 0.13% of Innovex International worth $2,242,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new position in Innovex International in the first quarter valued at $5,736,000. Sei Investments Co. raised its position in shares of Innovex International by 70.5% in the 1st quarter. Sei Investments Co. now owns 126,288 shares of the company's stock worth $3,080,000 after acquiring an additional 52,218 shares in the last quarter. State of Wyoming lifted its stake in shares of Innovex International by 73.3% in the 1st quarter. State of Wyoming now owns 29,216 shares of the company's stock valued at $713,000 after purchasing an additional 12,361 shares during the period. Cetera Investment Advisers lifted its stake in shares of Innovex International by 7.8% in the 1st quarter. Cetera Investment Advisers now owns 11,905 shares of the company's stock valued at $290,000 after purchasing an additional 865 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Innovex International by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company's stock valued at $64,544,000 after purchasing an additional 335,839 shares in the last quarter.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $28.00, for a total transaction of $301,000.00. Following the transaction, the insider directly owned 134,312 shares of the company's stock, valued at $3,760,736. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 34.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

INVX has been the subject of a number of research analyst reports. Wall Street Zen upgraded Innovex International from a "hold" rating to a "buy" rating in a report on Monday, June 22nd. Piper Sandler raised their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an "overweight" rating in a research report on Monday, May 18th. Jefferies Financial Group upgraded shares of Innovex International to a "strong-buy" rating in a research note on Friday, June 12th. Barclays boosted their target price on shares of Innovex International from $24.00 to $26.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Finally, Zacks Research cut shares of Innovex International from a "strong-buy" rating to a "hold" rating in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.25.

Innovex International Stock Down 0.0%

INVX stock opened at $26.83 on Monday. The stock's 50 day simple moving average is $26.84 and its 200 day simple moving average is $26.05. The company has a market cap of $1.84 billion, a P/E ratio of 35.77 and a beta of 0.83. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.38 and a current ratio of 5.10. Innovex International, Inc. has a fifty-two week low of $15.54 and a fifty-two week high of $32.25.

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.

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