Olympiad Research LP Makes New $357,000 Investment in Innovex International, Inc. (NYSE:INVX)

Olympiad Research LP acquired a new position in Innovex International, Inc. (NYSE:INVX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 25,586 shares of the company's stock, valued at approximately $357,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division purchased a new position in shares of Innovex International during the 4th quarter worth $63,000. D.A. Davidson & CO. purchased a new position in Innovex International during the fourth quarter worth about $193,000. Moody National Bank Trust Division purchased a new position in Innovex International during the fourth quarter worth about $234,000. Louisiana State Employees Retirement System increased its position in shares of Innovex International by 9.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the company's stock valued at $254,000 after acquiring an additional 1,500 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Innovex International by 8.9% in the 4th quarter. State of Alaska Department of Revenue now owns 21,402 shares of the company's stock valued at $298,000 after acquiring an additional 1,741 shares during the period.

Innovex International Stock Performance

Shares of NYSE:INVX traded up $2.71 during trading on Wednesday, hitting $18.85. The company's stock had a trading volume of 846,683 shares, compared to its average volume of 416,492. The stock has a market cap of $1.27 billion, a P/E ratio of 13.37 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 fifty-two week low of $12.54 and a fifty-two week high of $25.19. The firm's 50 day simple moving average is $15.63.

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Innovex International (NYSE:INVX - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.21. The company had revenue of $250.69 million for the quarter. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Insider Buying and Selling

In related news, CFO Kendal Reed bought 3,765 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $13.28 per share, with a total value of $49,999.20. Following the transaction, the chief financial officer now directly owns 186,232 shares of the company's stock, valued at approximately $2,473,160.96. This represents a 2.06 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on INVX. Barclays lowered their price objective on shares of Innovex International from $21.00 to $15.00 and set an "underweight" rating for the company in a research report on Tuesday, November 26th. Pickering Energy Partners upgraded Innovex International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th.

Innovex International Company 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.