GAMMA Investing LLC Has $6.78 Million Stock Position in Innovex International, Inc. (NYSE:INVX)

GAMMA Investing LLC lifted its holdings in Innovex International, Inc. (NYSE:INVX - Free Report) by 4,743.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,734 shares of the company's stock after purchasing an additional 36,955 shares during the period. GAMMA Investing LLC owned about 0.05% of Innovex International worth $6,780,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in INVX. Brandes Investment Partners LP grew its stake in shares of Innovex International by 41.3% in the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock worth $88,068,000 after purchasing an additional 1,841,686 shares during the last quarter. Madison Avenue Partners LP grew its stake in shares of Innovex International by 64.6% in the 4th quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company's stock worth $23,560,000 after purchasing an additional 662,009 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Innovex International by 5.5% in the 4th quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company's stock worth $59,554,000 after purchasing an additional 221,598 shares during the last quarter. Invesco Ltd. grew its stake in shares of Innovex International by 175.8% in the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company's stock worth $4,645,000 after purchasing an additional 211,907 shares during the last quarter. Finally, GeoSphere Capital Management LLC acquired a new position in shares of Innovex International in the 4th quarter worth approximately $2,794,000.

Innovex International Stock Down 0.1%

INVX traded down $0.01 on Friday, reaching $16.75. 382,515 shares of the company traded hands, compared to its average volume of 402,464. The stock's 50 day moving average price is $15.19 and its 200-day moving average price is $15.82. Innovex International, Inc. has a 52-week low of $11.93 and a 52-week high of $19.42. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 11.88 and a beta of 0.79. 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 posted its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03). The business had revenue of $240.42 million during the quarter, compared to analyst estimates of $247.73 million. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INVX shares. Wall Street Zen raised shares of Innovex International from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Johnson Rice raised shares of Innovex International to a "strong-buy" rating in a research report on Friday, May 30th. Finally, Barclays dropped their target price on shares of Innovex International from $16.00 to $13.00 and set an "underweight" rating on the stock in a research report on Friday, May 9th.

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.