Shares of InnerWorkings, Inc. (NASDAQ:INWK) have been assigned an average recommendation of “Buy” from the six brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $4.50.
Several analysts recently issued reports on the stock. ValuEngine upgraded shares of InnerWorkings from a “sell” rating to a “hold” rating in a report on Thursday, April 30th. Sidoti cut their price target on shares of InnerWorkings from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th.
In other InnerWorkings news, Director Jack M. Greenberg purchased 85,000 shares of the business’s stock in a transaction on Friday, March 20th. The shares were bought at an average cost of $1.14 per share, for a total transaction of $96,900.00. Following the completion of the purchase, the director now directly owns 311,871 shares of the company’s stock, valued at $355,532.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marc Zenner acquired 55,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were bought at an average cost of $1.33 per share, with a total value of $73,150.00. Following the completion of the transaction, the director now owns 60,713 shares of the company’s stock, valued at approximately $80,748.29. The disclosure for this purchase can be found here. Insiders have acquired 162,000 shares of company stock worth $195,710 over the last quarter. Insiders own 4.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Citigroup Inc. grew its position in shares of InnerWorkings by 35.4% during the fourth quarter. Citigroup Inc. now owns 21,575 shares of the business services provider’s stock worth $119,000 after buying an additional 5,637 shares in the last quarter. Morgan Stanley grew its position in shares of InnerWorkings by 14.0% during the first quarter. Morgan Stanley now owns 72,184 shares of the business services provider’s stock worth $84,000 after buying an additional 8,840 shares in the last quarter. Geode Capital Management LLC grew its position in shares of InnerWorkings by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 615,537 shares of the business services provider’s stock worth $3,391,000 after buying an additional 17,454 shares in the last quarter. UBS Group AG grew its position in shares of InnerWorkings by 43.8% during the fourth quarter. UBS Group AG now owns 59,596 shares of the business services provider’s stock worth $328,000 after buying an additional 18,165 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its position in shares of InnerWorkings by 4.8% during the fourth quarter. Essex Investment Management Co. LLC now owns 406,886 shares of the business services provider’s stock worth $2,242,000 after buying an additional 18,705 shares in the last quarter. 77.01% of the stock is owned by institutional investors and hedge funds.
INWK traded down $0.19 on Monday, hitting $1.26. The company had a trading volume of 37,765 shares, compared to its average volume of 224,172. The firm has a market cap of $84.84 million, a P/E ratio of -6.30 and a beta of 2.16. InnerWorkings has a 1 year low of $0.87 and a 1 year high of $5.81. The company’s fifty day moving average price is $1.32 and its 200 day moving average price is $3.12. The company has a current ratio of 1.52, a quick ratio of 1.38 and a debt-to-equity ratio of 0.84.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings data on Monday, March 16th. The business services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). The company had revenue of $319.07 million during the quarter, compared to analysts’ expectations of $299.79 million. InnerWorkings had a negative net margin of 1.06% and a positive return on equity of 3.49%. On average, analysts predict that InnerWorkings will post 0.18 earnings per share for the current year.
InnerWorkings, Inc provides marketing execution solutions in North America and internationally. 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.
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