Moody National Bank Trust Division Purchases New Position in Innovex International, Inc. (NYSE:INVX)

Moody National Bank Trust Division acquired a new position in shares of Innovex International, Inc. (NYSE:INVX) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 16,731 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in INVX. Central Pacific Bank Trust Division acquired a new position in Innovex International in the 4th quarter worth about $63,000. Barclays PLC acquired a new stake in shares of Innovex International during the third quarter valued at about $874,000. JPMorgan Chase & Co. bought a new stake in shares of Innovex International during the third quarter worth about $2,261,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Innovex International in the third quarter valued at approximately $2,383,000.

Analyst Upgrades and Downgrades

Separately, Barclays cut their target price on shares of Innovex International from $21.00 to $15.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 26th.

Innovex International Price Performance

Shares of Innovex International stock opened at $17.32 on Thursday. The firm has a market capitalization of $1.16 billion, a P/E ratio of 12.28 and a beta of 0.89. Innovex International, Inc. has a twelve month low of $12.54 and a twelve month high of $25.19. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01.

Insiders Place Their Bets

In other news, CFO Kendal Reed bought 3,765 shares of the firm’s 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 transaction, the chief financial officer now owns 186,232 shares of the company’s stock, valued at $2,473,160.96. This trade represents a 2.06 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.10% of the company’s stock.

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.