Innovex International, Inc. (NYSE:INVX) Shares Purchased by Acuitas Investments LLC

Acuitas Investments LLC boosted its stake in Innovex International, Inc. (NYSE:INVX) by 56.1% in the fourth quarter, HoldingsChannel reports. The firm owned 240,309 shares of the company’s stock after buying an additional 86,382 shares during the period. Innovex International makes up about 2.8% of Acuitas Investments LLC’s portfolio, making the stock its 10th largest position. Acuitas Investments LLC’s holdings in Innovex International were worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INVX. Principal Financial Group Inc. grew its holdings in shares of Innovex International by 12.4% during the fourth quarter. Principal Financial Group Inc. now owns 182,458 shares of the company’s stock valued at $2,549,000 after buying an additional 20,102 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Innovex International in the 3rd quarter worth about $2,261,000. Legato Capital Management LLC increased its position in shares of Innovex International by 68.6% during the fourth quarter. Legato Capital Management LLC now owns 148,794 shares of the company’s stock valued at $2,079,000 after acquiring an additional 60,554 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Innovex International by 4.0% during the 4th quarter. Rhumbline Advisers now owns 112,143 shares of the company’s stock worth $1,567,000 after purchasing an additional 4,297 shares during the period. Finally, Barclays PLC bought a new position in shares of Innovex International during the 3rd quarter valued at approximately $874,000.

Innovex International Stock Performance

NYSE INVX opened at $16.47 on Tuesday. The company has a market cap of $1.11 billion, a P/E ratio of 11.68 and a beta of 0.89. 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 52-week low of $12.54 and a 52-week high of $25.19. The stock’s fifty day moving average is $15.26.

Insiders Place Their Bets

In other Innovex International news, CFO Kendal Reed purchased 3,765 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $13.28 per share, with a total value of $49,999.20. Following the completion of the purchase, the chief financial officer now directly owns 186,232 shares of the company’s stock, valued at approximately $2,473,160.96. This trade represents a 2.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INVX. Barclays cut their price target on Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a research note on Tuesday, November 26th. Pickering Energy Partners raised shares of Innovex International from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th.

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.