Hussman Strategic Advisors Inc. Takes $919,000 Position in Innovex International, Inc. $INVX

Key Points

• Hussman Strategic Advisors established a new Q4 position in Innovex (INVX), buying 42,000 shares worth about $919,000, roughly 0.06% of the company.
• Massive insider sales: two director-related entities sold 6,612,500 shares each on Feb. 27 at $24.59, and insiders have offloaded 13,257,078 shares (~$326.1M) in the past 90 days, though insiders still own 34.90%.
• Innovex missed EPS for the quarter ($0.20 vs. $0.29 expected) but beat revenue ($273.6M vs. $240M), while analysts remain mixed and the consensus rating is "Hold" with a $25.50 price target.

Hussman Strategic Advisors Inc. bought a new stake in Innovex International, Inc. (NYSE:INVX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 42,000 shares of the company's stock, valued at approximately $919,000. Hussman Strategic Advisors Inc. owned approximately 0.06% of Innovex International at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Innovex International by 26,300.0% during the 3rd quarter. Covestor Ltd now owns 1,848 shares of the company's stock valued at $34,000 after purchasing an additional 1,841 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Innovex International by 31.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,151 shares of the company's stock valued at $40,000 after purchasing an additional 511 shares during the last quarter. Strs Ohio bought a new stake in shares of Innovex International during the 4th quarter valued at approximately $44,000. Westfuller Advisors LLC bought a new stake in shares of Innovex International during the 3rd quarter valued at approximately $53,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Innovex International by 418.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,523 shares of the company's stock valued at $55,000 after purchasing an additional 2,843 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INVX shares. Weiss Ratings lowered shares of Innovex International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, February 27th. Barclays lifted their price target on shares of Innovex International from $20.00 to $24.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. Finally, Zacks Research lowered shares of Innovex International from a "hold" rating to a "strong sell" rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.50.

Insider Transactions at Innovex International

In other news, Director Amberjack Capital Partners, L. sold 6,612,500 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $24.59, for a total value of $162,601,375.00. Following the transaction, the director owned 399 shares in the company, valued at approximately $9,811.41. The trade was a 99.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the business's 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 completion of the transaction, the director owned 399 shares in the company, valued at $9,811.41. This trade represents a 99.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 13,257,078 shares of company stock worth $326,097,112. Company insiders own 34.90% of the company's stock.

Innovex International Stock Down 0.1%

Shares of NYSE INVX opened at $27.67 on Monday. The company has a market capitalization of $1.90 billion, a P/E ratio of 23.06 and a beta of 0.84. Innovex International, Inc. has a 52-week low of $11.93 and a 52-week high of $29.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.24 and a current ratio of 4.91. The company's 50 day moving average price is $25.96 and its 200-day moving average price is $23.78.

Innovex International (NYSE:INVX - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.09). The firm had revenue of $273.60 million during the quarter, compared to analyst estimates of $240.00 million. Innovex International had a return on equity of 6.55% and a net margin of 8.52%. Equities analysts forecast that Innovex International, Inc. will post 1.32 earnings per share for the current year.

Innovex International 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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