Gabelli Funds LLC Lowers Stock Position in Innovex International, Inc. $INVX

Gabelli Funds LLC lessened its stake in Innovex International, Inc. (NYSE:INVX) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,100 shares of the company’s stock after selling 64,900 shares during the period. Gabelli Funds LLC owned approximately 0.52% of Innovex International worth $5,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of Innovex International by 234.0% during the 1st quarter. US Bancorp DE now owns 1,533 shares of the company’s stock valued at $28,000 after buying an additional 1,074 shares in the last quarter. First Horizon Advisors Inc. increased its stake in Innovex International by 150.3% in the second quarter. First Horizon Advisors Inc. now owns 3,367 shares of the company’s stock valued at $53,000 after acquiring an additional 2,022 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Innovex International by 264.9% in the first quarter. Smartleaf Asset Management LLC now owns 3,375 shares of the company’s stock valued at $60,000 after acquiring an additional 2,450 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Innovex International by 15.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company’s stock valued at $106,000 after purchasing an additional 794 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in Innovex International by 23.7% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 8,550 shares of the company’s stock worth $134,000 after purchasing an additional 1,639 shares during the last quarter.

Innovex International Stock Performance

NYSE INVX opened at $23.07 on Wednesday. The company has a 50-day simple moving average of $20.51 and a two-hundred day simple moving average of $17.78. The company has a quick ratio of 2.93, a current ratio of 4.78 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $24.31. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 15.69 and a beta of 0.74.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Wednesday, February 23rd. The company reported ($0.12) EPS for the quarter. The company had revenue of $87.23 million during the quarter. Innovex International had a return on equity of 8.51% and a net margin of 10.59%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Innovex International in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $16.50.

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.