Penn Capital Management Company LLC Sells 21,927 Shares of Innovex International, Inc. $INVX

Penn Capital Management Company LLC cut its stake in Innovex International, Inc. (NYSE:INVX) by 40.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,526 shares of the company’s stock after selling 21,927 shares during the period. Penn Capital Management Company LLC’s holdings in Innovex International were worth $807,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Royce & Associates LP bought a new stake in shares of Innovex International during the fourth quarter valued at approximately $415,000. Simcoe Capital LLC bought a new position in Innovex International in the fourth quarter worth $3,625,000. Hussman Strategic Advisors Inc. purchased a new position in Innovex International during the fourth quarter valued at $919,000. Avidian Wealth Enterprises LLC purchased a new position in Innovex International during the fourth quarter valued at $5,821,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Innovex International by 14.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,646,376 shares of the company’s stock valued at $64,544,000 after buying an additional 335,839 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of Innovex International from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Piper Sandler boosted their price objective on shares of Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wall Street Zen lowered shares of Innovex International from a “buy” rating to a “hold” rating in a research note on Monday, August 17th. Zacks Research cut shares of Innovex International from a “strong-buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Jefferies Financial Group raised shares of Innovex International to a “strong-buy” rating in a research note on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.75.

Innovex International Price Performance

Shares of NYSE:INVX opened at $30.10 on Friday. Innovex International, Inc. has a 1-year low of $16.29 and a 1-year high of $33.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.01 and a quick ratio of 3.32. The business has a fifty day moving average price of $27.24 and a 200-day moving average price of $26.84. The company has a market capitalization of $2.11 billion, a PE ratio of 33.82 and a beta of 0.83.

Innovex International (NYSE:INVX) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. Innovex International had a net margin of 6.17% and a return on equity of 7.12%. The company had revenue of $244.90 million for the quarter, compared to analysts’ expectations of $241.58 million. As a group, equities analysts expect that Innovex International, Inc. will post 1.44 EPS for the current fiscal year.

Insider Buying and Selling at Innovex International

In other news, Director Co-Invest Fund L.P. Innovex sold 4,954,467 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $28.71, for a total transaction of $142,242,747.57. Following the sale, the director owned 311 shares of the company’s stock, valued at $8,928.81. This trade represents a 99.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Reddout sold 10,750 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $28.00, for a total transaction of $301,000.00. Following the sale, the insider directly owned 134,312 shares in the company, valued at approximately $3,760,736. The trade was a 7.41% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,975,217 shares of company stock worth $286,393,748. Company insiders own 34.90% of the company’s stock.

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.