InnerWorkings Inc. (INWK) Position Maintained by Royce & Associates LP
Royce & Associates LP held its position in shares of InnerWorkings Inc. (NASDAQ:INWK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,000 shares of the company’s stock at the end of the second quarter. Royce & Associates LP owned approximately 0.21% of InnerWorkings worth $943,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its position in shares of InnerWorkings by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,157 shares of the company’s stock valued at $357,000 after buying an additional 348 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of InnerWorkings by 2.5% in the second quarter. California State Teachers Retirement System now owns 80,584 shares of the company’s stock valued at $666,000 after buying an additional 1,970 shares in the last quarter. I.G. Investment Management LTD. raised its stake in shares of InnerWorkings by 1.9% in the second quarter. I.G. Investment Management LTD. now owns 174,041 shares of the company’s stock valued at $1,439,000 after buying an additional 3,248 shares in the last quarter. Spark Investment Management LLC raised its stake in shares of InnerWorkings by 11.7% in the first quarter. Spark Investment Management LLC now owns 39,600 shares of the company’s stock valued at $314,000 after buying an additional 4,151 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of InnerWorkings by 9.3% in the second quarter. Swiss National Bank now owns 62,100 shares of the company’s stock valued at $514,000 after buying an additional 5,300 shares in the last quarter. 78.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of InnerWorkings Inc. (NASDAQ:INWK) traded down 1.86% during mid-day trading on Tuesday, reaching $8.44. The company had a trading volume of 279,530 shares. InnerWorkings Inc. has a 12-month low of $6.06 and a 12-month high of $10.08. The firm’s 50 day moving average is $8.68 and its 200-day moving average is $8.30. The stock’s market capitalization is $452.34 million.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings results on Monday, August 15th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. InnerWorkings had a positive return on equity of 7.05% and a negative net margin of 3.66%. The firm earned $269.20 million during the quarter, compared to analysts’ expectations of $262.46 million. During the same period in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts expect that InnerWorkings Inc. will post $0.33 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised InnerWorkings from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Wednesday, August 17th.
In other news, major shareholder Sagard Capital Partners, L.P. sold 6,721,467 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $8.25, for a total value of $55,452,102.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.40% of the stock is owned by insiders.
InnerWorkings, Inc is a marketing execution company. The Company’s software applications and databases create an integrated solution that stores, analyzes and tracks the production capabilities of its supplier network, as well as detailed pricing data. The Company operates through three segments: North America, Latin America and EMEA.
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