Simcoe Capital LLC Acquires New Shares in Innovex International, Inc. $INVX

Simcoe Capital LLC acquired a new stake in Innovex International, Inc. (NYSE:INVX) in the 4th quarter, Holdings Channel reports. The firm acquired 165,756 shares of the company’s stock, valued at approximately $3,625,000. Innovex International accounts for approximately 3.4% of Simcoe Capital LLC’s holdings, making the stock its 13th largest holding.

Other hedge funds have also recently bought and sold shares of the company. Heartland Advisors Inc. purchased a new position in Innovex International in the 3rd quarter valued at approximately $3,708,000. Fisher Asset Management LLC grew its holdings in Innovex International by 69.0% during the 3rd quarter. Fisher Asset Management LLC now owns 228,887 shares of the company’s stock valued at $4,244,000 after buying an additional 93,412 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Innovex International during the 4th quarter valued at $12,702,000. Citigroup Inc. grew its holdings in Innovex International by 79.8% during the 3rd quarter. Citigroup Inc. now owns 197,020 shares of the company’s stock valued at $3,653,000 after buying an additional 87,458 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC acquired a new stake in Innovex International during the 4th quarter valued at $5,821,000.

Insider Transactions at Innovex International

In other news, Director Co-Invest Fund L.P. Innovex sold 6,612,500 shares of the firm’s 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 owned 399 shares in the company, valued at $9,811.41. This trade represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam Anderson sold 18,837 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $28.50, for a total value of $536,854.50. Following the sale, the chief executive officer owned 466,744 shares in the company, valued at $13,302,204. This trade represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,257,078 shares of company stock worth $326,097,112 over the last quarter. 34.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on INVX shares. Zacks Research cut Innovex International from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Weiss Ratings cut Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. Citigroup started coverage on Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Barclays increased their target price on Innovex International from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.33.

Innovex International Price Performance

INVX stock opened at $27.34 on Wednesday. Innovex International, Inc. has a 52-week low of $13.44 and a 52-week high of $29.48. The stock’s fifty day simple moving average is $25.92 and its 200-day simple moving average is $24.15. The company has a quick ratio of 3.38, a current ratio of 5.10 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 36.46 and a beta of 0.84.

Innovex International (NYSE:INVX) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.09). Innovex International had a return on equity of 6.72% and a net margin of 5.31%.The business had revenue of $273.60 million for the quarter, compared to analyst estimates of $240.00 million. Equities research analysts expect that Innovex International, Inc. will post 1.32 EPS for the current year.

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.