Innovex International (NYSE:INVX) Director Sells $162,601,375.00 in Stock
by Tristan Rich · The Markets DailyInnovex International, Inc. (NYSE:INVX – Get Free Report) Director Amberjack Capital Partners, L. sold 6,612,500 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $24.59, for a total transaction of $162,601,375.00. Following the sale, the director directly owned 399 shares of the company’s stock, valued at $9,811.41. This represents a 99.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Innovex International Stock Down 1.0%
INVX traded down $0.26 during trading on Friday, hitting $26.39. The company had a trading volume of 793,219 shares, compared to its average volume of 631,851. The company has a market capitalization of $1.82 billion, a PE ratio of 21.99 and a beta of 0.75. Innovex International, Inc. has a one year low of $11.93 and a one year high of $29.48. The firm’s 50-day moving average price is $24.48 and its 200 day moving average price is $21.10. The company has a quick ratio of 2.93, a current ratio of 4.91 and a debt-to-equity ratio of 0.02.
Innovex International (NYSE:INVX – Get Free Report) last released its earnings results on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.09). The firm had revenue of $273.60 million for the quarter, compared to the consensus estimate of $240.00 million. Innovex International had a return on equity of 6.55% and a net margin of 8.52%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on INVX shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Innovex International in a research report on Monday, December 29th. Piper Sandler increased their target price on shares of Innovex International from $20.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Innovex International presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.
Get Our Latest Stock Report on INVX
Institutional Investors Weigh In On Innovex International
Institutional investors and hedge funds have recently made changes to their positions in the stock. Dean Capital Management boosted its stake in shares of Innovex International by 2.7% during the 4th quarter. Dean Capital Management now owns 143,490 shares of the company’s stock worth $3,138,000 after acquiring an additional 3,834 shares during the period. Invesco Ltd. lifted its holdings in Innovex International by 8.8% during the 4th quarter. Invesco Ltd. now owns 374,633 shares of the company’s stock valued at $8,193,000 after purchasing an additional 30,451 shares during the last quarter. XTX Topco Ltd acquired a new stake in Innovex International during the 4th quarter valued at $294,000. Millennium Management LLC bought a new position in Innovex International during the fourth quarter worth $600,000. Finally, Gotham Asset Management LLC acquired a new position in shares of Innovex International in the fourth quarter valued at $680,000.
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.