Renaissance Technologies LLC Reduces Position in Innovex International, Inc. (NYSE:INVX)

Renaissance Technologies LLC trimmed its stake in Innovex International, Inc. (NYSE:INVX - Free Report) by 32.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,059 shares of the company's stock after selling 24,700 shares during the period. Renaissance Technologies LLC owned about 0.08% of Innovex International worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in shares of Innovex International by 175.8% in the fourth quarter. Invesco Ltd. now owns 332,468 shares of the company's stock valued at $4,645,000 after purchasing an additional 211,907 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Innovex International by 27.6% in the 4th quarter. Wells Fargo & Company MN now owns 20,115 shares of the company's stock worth $281,000 after buying an additional 4,350 shares during the period. Geode Capital Management LLC grew its position in shares of Innovex International by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 816,945 shares of the company's stock worth $11,416,000 after buying an additional 35,611 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Innovex International during the fourth quarter valued at $1,665,000. Finally, Prudential Financial Inc. lifted its stake in Innovex International by 3.3% in the fourth quarter. Prudential Financial Inc. now owns 38,001 shares of the company's stock worth $531,000 after acquiring an additional 1,200 shares during the period.

Innovex International Price Performance

Shares of INVX stock traded up $0.22 during mid-day trading on Wednesday, hitting $15.25. 533,616 shares of the stock traded hands, compared to its average volume of 410,846. Innovex International, Inc. has a 52-week low of $11.93 and a 52-week high of $19.80. The stock has a market capitalization of $1.06 billion, a PE ratio of 10.82 and a beta of 0.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. The stock's fifty day moving average price is $16.51.

Innovex International (NYSE:INVX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). The firm 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%.

Analyst Ratings Changes

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

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.