Investment Management Associates Inc. ADV Purchases Shares of 386,269 Innovex International, Inc. (NYSE:INVX)

Investment Management Associates Inc. ADV purchased a new stake in Innovex International, Inc. (NYSE:INVX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 386,269 shares of the company's stock, valued at approximately $6,937,000. Innovex International makes up about 2.8% of Investment Management Associates Inc. ADV's holdings, making the stock its 13th largest position. Investment Management Associates Inc. ADV owned about 0.56% of Innovex International as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INVX. ProShare Advisors LLC purchased a new position in Innovex International during the fourth quarter worth approximately $145,000. New York State Teachers Retirement System raised its stake in Innovex International by 2.3% during the 1st quarter. New York State Teachers Retirement System now owns 61,132 shares of the company's stock valued at $1,098,000 after acquiring an additional 1,399 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Innovex International by 169.7% during the 1st quarter. GAMMA Investing LLC now owns 2,101 shares of the company's stock worth $38,000 after buying an additional 1,322 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Innovex International by 56.8% in the 4th quarter. Millennium Management LLC now owns 83,951 shares of the company's stock worth $1,173,000 after purchasing an additional 30,402 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in Innovex International during the 4th quarter worth approximately $152,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Barclays reduced their target price on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Wall Street Zen downgraded Innovex International from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Johnson Rice upgraded shares of Innovex International to a "strong-buy" rating in a report on Friday, May 30th.

Innovex International Stock Performance

NYSE INVX traded up $0.04 during trading on Monday, reaching $16.24. 352,743 shares of the company's stock were exchanged, compared to its average volume of 411,729. The stock has a market capitalization of $1.12 billion, a P/E ratio of 6.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.34 and a quick ratio of 2.49. Innovex International, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $19.42. The business has a 50 day moving average price of $15.40 and a 200-day moving average price of $16.06.

Innovex International (NYSE:INVX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03). Innovex International had a return on equity of 7.14% and a net margin of 16.68%. The business had revenue of $240.42 million for the quarter, compared to analyst estimates of $247.73 million.

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.