Central Pacific Bank Trust Division Takes Position in Innovex International, Inc. (NYSE:INVX)

Central Pacific Bank Trust Division purchased a new position in shares of Innovex International, Inc. (NYSE:INVX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,500 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of Innovex International in the 3rd quarter valued at approximately $2,383,000. JPMorgan Chase & Co. acquired a new position in Innovex International during the third quarter valued at approximately $2,261,000. Finally, Barclays PLC bought a new stake in Innovex International during the third quarter worth $874,000.

Innovex International Stock Performance

INVX opened at $14.88 on Monday. The company has a market capitalization of $1.00 billion, a PE ratio of 10.55 and a beta of 0.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.17 and a current ratio of 3.87. Innovex International, Inc. has a 1-year low of $12.54 and a 1-year high of $25.19.

Insider Activity at Innovex International

In other news, CFO Kendal Reed bought 3,765 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $13.28 per share, with a total value of $49,999.20. Following the acquisition, the chief financial officer now directly owns 186,232 shares in the company, valued at approximately $2,473,160.96. This trade represents a 2.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Barclays lowered their price target on Innovex International from $21.00 to $15.00 and set an “underweight” rating for the company in a report on Tuesday, November 26th.

Innovex International Profile

Innovex Downhole Solutions Inc designs, manufactures and installs mission-critical drilling & deployment, well construction, completion, production and fishing & intervention solutions to support upstream onshore and offshore activities. Innovex Downhole Solutions Inc, formerly known as Dril-Quip, is based in HOUSTON.