First Trust Advisors LP cut its position in InnerWorkings Inc. (NASDAQ:INWK) by 7.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 19,815 shares of the company’s stock after selling 1,522 shares during the period. First Trust Advisors LP’s holdings in InnerWorkings were worth $164,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in INWK. Eagle Boston Investment Management Inc. boosted its position in shares of InnerWorkings by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 926,311 shares of the company’s stock worth $7,660,000 after buying an additional 26,356 shares in the last quarter. Aristotle Capital Boston LLC boosted its position in shares of InnerWorkings by 5.0% in the first quarter. Aristotle Capital Boston LLC now owns 730,593 shares of the company’s stock worth $5,808,000 after buying an additional 34,590 shares in the last quarter. Kalmar Investments Inc. DE boosted its position in shares of InnerWorkings by 11.8% in the second quarter. Kalmar Investments Inc. DE now owns 670,242 shares of the company’s stock worth $5,543,000 after buying an additional 70,999 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in shares of InnerWorkings by 27.8% in the first quarter. Kennedy Capital Management Inc. now owns 445,229 shares of the company’s stock worth $3,540,000 after buying an additional 96,908 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of InnerWorkings by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 227,331 shares of the company’s stock worth $1,880,000 after buying an additional 9,542 shares in the last quarter. 77.85% of the stock is currently owned by institutional investors.
Shares of InnerWorkings Inc. (NASDAQ:INWK) traded down 0.610% during midday trading on Wednesday, reaching $8.965. The company’s stock had a trading volume of 7,812 shares. The stock has a 50-day moving average of $8.85 and a 200 day moving average of $8.52. The firm’s market capitalization is $480.48 million. InnerWorkings Inc. has a 12-month low of $6.06 and a 12-month high of $10.08.
InnerWorkings (NASDAQ:INWK) last released its quarterly earnings results on Monday, August 15th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.07. InnerWorkings had a negative net margin of 3.66% and a positive return on equity of 7.05%. The business had revenue of $269.20 million for the quarter, compared to analyst estimates of $262.46 million. During the same period in the previous year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts predict that InnerWorkings Inc. will post $0.33 EPS for the current fiscal year.
Separately, Zacks Investment Research cut InnerWorkings from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 13th.
In other InnerWorkings news, major shareholder Sagard Capital Partners, L.P. sold 6,721,467 shares of InnerWorkings stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $8.25, for a total value of $55,452,102.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. 18.40% of the stock is currently owned by company 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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