Gabelli Funds LLC Cuts Position in Innovex International, Inc. (NYSE:INVX)

Gabelli Funds LLC reduced its position in Innovex International, Inc. (NYSE:INVX - Free Report) by 11.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 496,700 shares of the company's stock after selling 62,080 shares during the period. Gabelli Funds LLC owned 0.74% of Innovex International worth $6,939,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. XTX Topco Ltd grew its stake in shares of Innovex International by 260.5% in the 4th quarter. XTX Topco Ltd now owns 80,471 shares of the company's stock valued at $1,124,000 after purchasing an additional 58,147 shares during the last quarter. CenterBook Partners LP increased its stake in Innovex International by 136.2% in the 4th quarter. CenterBook Partners LP now owns 254,149 shares of the company's stock valued at $3,550,000 after buying an additional 146,544 shares during the period. Invesco Ltd. raised its position in Innovex International by 175.8% during the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company's stock worth $4,645,000 after buying an additional 211,907 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Innovex International by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 20,115 shares of the company's stock valued at $281,000 after acquiring an additional 4,350 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Innovex International by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 816,945 shares of the company's stock worth $11,416,000 after acquiring an additional 35,611 shares during the period.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on INVX shares. Barclays upped their price target on shares of Innovex International from $15.00 to $16.00 and gave the stock an "underweight" rating in a research note on Wednesday, March 5th. Pickering Energy Partners raised Innovex International from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th.

Innovex International Price Performance

Innovex International stock traded up $0.12 during mid-day trading on Tuesday, hitting $15.60. 54,654 shares of the company were exchanged, compared to its average volume of 418,947. 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, Inc. has a 12-month low of $12.54 and a 12-month high of $20.14. The firm has a 50 day moving average price of $16.91. The firm has a market cap of $1.08 billion, a P/E ratio of 11.06 and a beta of 0.78.

Innovex International (NYSE:INVX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%. The business had revenue of $250.69 million for the quarter.

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.