Innovex International, Inc. $INVX Stock Holdings Cut by Gamco Investors INC. ET AL

Key Points

• Gamco Investors cut its Innovex International stake by 12.4% in Q1, selling 246,650 shares and leaving it with 1.73 million shares worth about $42.3 million.
• Wall Street sentiment on INVX is mixed but generally constructive: the stock carries a Moderate Buy consensus with an average target price of $32.25, while recent rating changes included both upgrades and downgrades.
• Insider activity showed Mark Reddout sold 10,750 shares at $28.00 each, and the stock recently traded at $26.83, near its 50-day average and below its 52-week high of $32.25.

Gamco Investors INC. ET AL cut its position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,734,693 shares of the company's stock after selling 246,650 shares during the quarter. Gamco Investors INC. ET AL owned 2.52% of Innovex International worth $42,309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in shares of Innovex International by 7.8% in the first quarter. Cetera Investment Advisers now owns 11,905 shares of the company's stock valued at $290,000 after buying an additional 865 shares during the period. Lesa Sroufe & Co boosted its stake in Innovex International by 1.0% during the first quarter. Lesa Sroufe & Co now owns 122,788 shares of the company's stock valued at $2,995,000 after buying an additional 1,253 shares in the last quarter. Swiss National Bank grew its holdings in Innovex International by 1.8% during the first quarter. Swiss National Bank now owns 74,900 shares of the company's stock worth $1,827,000 after acquiring an additional 1,300 shares during the period. Covestor Ltd grew its holdings in Innovex International by 77.7% during the fourth quarter. Covestor Ltd now owns 3,284 shares of the company's stock worth $72,000 after acquiring an additional 1,436 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Innovex International by 7.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,093 shares of the company's stock worth $379,000 after acquiring an additional 1,467 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INVX. Jefferies Financial Group raised shares of Innovex International to a "strong-buy" rating in a report on Friday, June 12th. Citigroup started coverage on shares of Innovex International in a research note on Thursday, May 7th. They issued a "buy" rating and a $35.00 price objective on the stock. Weiss Ratings downgraded shares of Innovex International from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Innovex International from a "hold" rating to a "buy" rating in a report on Monday, June 22nd. Finally, Zacks Research lowered shares of Innovex International from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $32.25.

Insider Activity at Innovex International

In other news, insider Mark Reddout sold 10,750 shares of the company's stock in a transaction 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 completion of the sale, 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 SEC, which is available at the SEC website. 34.90% of the stock is currently owned by corporate insiders.

Innovex International Stock Performance

INVX opened at $26.83 on Friday. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.84 billion, a PE ratio of 35.77 and a beta of 0.83. The business has a fifty day simple moving average of $26.84 and a 200-day simple moving average of $26.04. 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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