Marathon Capital Management lessened its stake in shares of InnerWorkings, Inc. (NASDAQ:INWK) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,875 shares of the business services provider’s stock after selling 250 shares during the quarter. InnerWorkings comprises about 1.0% of Marathon Capital Management’s investment portfolio, making the stock its 18th biggest holding. Marathon Capital Management owned 0.36% of InnerWorkings worth $2,203,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in InnerWorkings by 8.3% in the first quarter. Russell Investments Group Ltd. now owns 663,675 shares of the business services provider’s stock worth $6,609,000 after buying an additional 50,649 shares during the last quarter. Bank of New York Mellon Corp grew its position in InnerWorkings by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 213,140 shares of the business services provider’s stock worth $2,123,000 after buying an additional 8,148 shares during the last quarter. Swiss National Bank boosted its stake in InnerWorkings by 8.9% in the 1st quarter. Swiss National Bank now owns 67,600 shares of the business services provider’s stock worth $673,000 after purchasing an additional 5,500 shares during the period. Karp Capital Management Corp acquired a new position in InnerWorkings in the 1st quarter worth approximately $316,000. Finally, Sei Investments Co. boosted its stake in InnerWorkings by 107.3% in the 1st quarter. Sei Investments Co. now owns 193,005 shares of the business services provider’s stock worth $1,922,000 after purchasing an additional 99,881 shares during the period. Institutional investors and hedge funds own 78.82% of the company’s stock.
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Shares of InnerWorkings, Inc. (NASDAQ INWK) opened at 10.90 on Friday. The company has a 50 day moving average of $10.75 and a 200 day moving average of $10.70. The firm has a market cap of $583.34 million, a price-to-earnings ratio of 31.69 and a beta of 1.62. InnerWorkings, Inc. has a 1-year low of $8.07 and a 1-year high of $11.94.
InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings results on Monday, August 7th. The business services provider reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $279.53 million during the quarter, compared to analyst estimates of $282.62 million. InnerWorkings had a net margin of 1.76% and a return on equity of 8.84%. InnerWorkings’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.11 EPS. On average, equities analysts forecast that InnerWorkings, Inc. will post $0.48 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of InnerWorkings from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, June 16th. Wunderlich reissued a “buy” rating and set a $15.00 target price on shares of InnerWorkings in a research note on Friday, June 30th. Finally, BidaskClub lowered shares of InnerWorkings from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.33.
InnerWorkings Company Profile
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’s segments include North America and International.
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