InnerWorkings Inc. (INWK) Shares Bought by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System boosted its position in InnerWorkings Inc. (NASDAQ:INWK) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 43,157 shares of the company’s stock after buying an additional 348 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of InnerWorkings worth $357,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Emerald Acquisition Ltd. purchased a new stake in InnerWorkings during the second quarter worth approximately $1,693,000. Kennedy Capital Management Inc. increased its stake 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 valued at $3,540,000 after buying an additional 96,908 shares in the last quarter. Kalmar Investments Inc. DE increased its stake 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 valued at $5,543,000 after buying an additional 70,999 shares in the last quarter. Bogle Investment Management L P DE bought a new stake in shares of InnerWorkings during the first quarter valued at about $427,000. Finally, California Public Employees Retirement System increased its stake in shares of InnerWorkings by 111.9% in the second quarter. California Public Employees Retirement System now owns 73,100 shares of the company’s stock valued at $604,000 after buying an additional 38,600 shares in the last quarter. Institutional investors own 77.85% of the company’s stock.
Shares of InnerWorkings Inc. (NASDAQ:INWK) traded up 1.14% during mid-day trading on Wednesday, hitting $8.91. The stock had a trading volume of 24,163 shares. InnerWorkings Inc. has a 12-month low of $6.06 and a 12-month high of $10.08. The company has a 50 day moving average price of $8.87 and a 200 day moving average price of $8.48. The firm’s market cap is $477.53 million.
InnerWorkings (NASDAQ:INWK) last posted its 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 had revenue of $269.20 million for the quarter, compared to analysts’ expectations of $262.46 million. During the same period last year, the firm earned $0.04 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities analysts forecast that InnerWorkings Inc. will post $0.33 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded InnerWorkings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 13th.
In related 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 SEC, which is available through this link. 18.40% of the stock is owned by corporate insiders.
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 operates through three segments: North America, Latin America and EMEA.
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