Plaisance Capital LLC bought a new stake in shares of InnerWorkings, Inc. (NASDAQ:INWK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 157,003 shares of the business services provider’s stock, valued at approximately $207,000. Plaisance Capital LLC owned 0.30% of InnerWorkings at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC lifted its position in InnerWorkings by 2.0% in the second quarter. Pacific Ridge Capital Partners LLC now owns 1,043,234 shares of the business services provider’s stock valued at $1,377,000 after purchasing an additional 20,192 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of InnerWorkings by 312.7% in the second quarter. Assenagon Asset Management S.A. now owns 61,498 shares of the business services provider’s stock worth $81,000 after buying an additional 46,598 shares during the period. Hollencrest Capital Management bought a new stake in InnerWorkings during the 2nd quarter valued at $26,000. Squarepoint Ops LLC purchased a new stake in InnerWorkings during the 1st quarter valued at $28,000. Finally, Morgan Stanley boosted its position in InnerWorkings by 14.0% during the 1st quarter. Morgan Stanley now owns 72,184 shares of the business services provider’s stock valued at $84,000 after buying an additional 8,840 shares during the period. Institutional investors and hedge funds own 69.18% of the company’s stock.
INWK has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of InnerWorkings from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. Sidoti downgraded InnerWorkings from a “buy” rating to a “neutral” rating and set a $3.00 price target on the stock. in a report on Thursday, July 16th. Craig Hallum cut InnerWorkings from a “buy” rating to a “hold” rating and set a $3.00 price objective for the company. in a report on Friday, July 17th. Finally, Barrington Research lowered InnerWorkings from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $2.94.
Shares of NASDAQ INWK traded up $0.02 during midday trading on Friday, hitting $2.84. 176,535 shares of the company traded hands, compared to its average volume of 190,647. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.53. The stock has a 50-day moving average price of $2.78 and a 200 day moving average price of $1.97. InnerWorkings, Inc. has a 12-month low of $0.87 and a 12-month high of $5.81. The firm has a market cap of $150.07 million, a P/E ratio of -6.17, a P/E/G ratio of 1.01 and a beta of 2.63.
InnerWorkings (NASDAQ:INWK) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The business had revenue of $203.31 million during the quarter, compared to the consensus estimate of $240.07 million. InnerWorkings had a positive return on equity of 0.46% and a negative net margin of 1.81%. As a group, equities analysts expect that InnerWorkings, Inc. will post 0.14 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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