Renaissance Technologies LLC Sells 24,700 Shares of Innovex International, Inc. (NYSE:INVX)

Renaissance Technologies LLC cut its stake in Innovex International, Inc. (NYSE:INVX) by 32.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,059 shares of the company’s stock after selling 24,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Innovex International were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of INVX. Brandes Investment Partners LP lifted its stake in Innovex International by 41.3% during the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company’s stock valued at $88,068,000 after acquiring an additional 1,841,686 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Innovex International by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company’s stock valued at $59,554,000 after purchasing an additional 221,598 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Innovex International by 175.8% in the fourth quarter. Invesco Ltd. now owns 332,468 shares of the company’s stock valued at $4,645,000 after purchasing an additional 211,907 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Innovex International during the third quarter valued at about $2,383,000. Finally, JPMorgan Chase & Co. purchased a new position in Innovex International during the third quarter worth about $2,261,000.

Wall Street Analyst Weigh In

A number of analysts recently commented on INVX shares. Pickering Energy Partners raised Innovex International from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays upped their price objective on Innovex International from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Wednesday, March 5th.

Innovex International Stock Up 1.7 %

Shares of NYSE:INVX opened at $15.36 on Friday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 10.89 and a beta of 0.78. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17. The stock’s 50-day simple moving average is $16.74. Innovex International, Inc. has a twelve month low of $12.54 and a twelve month high of $19.80.

Innovex International (NYSE:INVX) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The firm had revenue of $250.69 million during the quarter.

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.