Madison Avenue Partners LP Boosts Stake in Innovex International, Inc. (NYSE:INVX)

Madison Avenue Partners LP raised its holdings in Innovex International, Inc. (NYSE:INVX - Free Report) by 64.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,686,476 shares of the company's stock after purchasing an additional 662,009 shares during the quarter. Innovex International accounts for approximately 2.5% of Madison Avenue Partners LP's investment portfolio, making the stock its 11th biggest position. Madison Avenue Partners LP owned about 2.51% of Innovex International worth $23,560,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Amalgamated Bank increased its position in Innovex International by 6.2% in the 4th quarter. Amalgamated Bank now owns 10,853 shares of the company's stock valued at $152,000 after acquiring an additional 630 shares during the period. Oregon Public Employees Retirement Fund increased its position in Innovex International by 9.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company's stock valued at $124,000 after buying an additional 758 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Innovex International by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,626 shares of the company's stock worth $274,000 after purchasing an additional 836 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Innovex International by 9.0% during the fourth quarter. Maryland State Retirement & Pension System now owns 12,681 shares of the company's stock worth $177,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Innovex International by 5.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 20,878 shares of the company's stock worth $292,000 after acquiring an additional 1,149 shares in the last quarter.

Innovex International Stock Performance

Shares of NYSE INVX traded down $0.19 during midday trading on Monday, hitting $14.74. 90,487 shares of the company traded hands, compared to its average volume of 404,006. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.45 and a beta of 0.80. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $19.44. The firm has a 50-day moving average of $16.14.

Innovex International (NYSE:INVX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $240.42 million during the quarter, compared to analysts' expectations of $247.73 million. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Wall Street Analyst Weigh In

Separately, Barclays reduced their target price on shares of Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company 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.