SECOR Capital Advisors LP Acquires New Stake in InnerWorkings, Inc. (INWK)
SECOR Capital Advisors LP acquired a new position in InnerWorkings, Inc. (NASDAQ:INWK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,695 shares of the company’s stock, valued at approximately $694,000. SECOR Capital Advisors LP owned about 0.14% of InnerWorkings at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. increased its position in InnerWorkings by 2.3% in the third quarter. Sei Investments Co. now owns 10,978 shares of the company’s stock worth $103,000 after buying an additional 248 shares during the last quarter. Rhumbline Advisers increased its position in InnerWorkings by 0.8% in the third quarter. Rhumbline Advisers now owns 45,581 shares of the company’s stock worth $429,000 after buying an additional 340 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in InnerWorkings by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 43,157 shares of the company’s stock worth $357,000 after buying an additional 348 shares during the last quarter. BlackRock Inc. increased its position in InnerWorkings by 2.0% in the third quarter. BlackRock Inc. now owns 19,134 shares of the company’s stock worth $180,000 after buying an additional 373 shares during the last quarter. Finally, American International Group Inc. increased its position in InnerWorkings by 1.7% in the second quarter. American International Group Inc. now owns 22,123 shares of the company’s stock worth $183,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.
InnerWorkings, Inc. (NASDAQ:INWK) traded up 2.34% on Friday, reaching $9.62. The company’s stock had a trading volume of 190,225 shares. The company’s market cap is $517.29 million. InnerWorkings, Inc. has a 52-week low of $6.06 and a 52-week high of $10.37. The firm’s 50-day moving average price is $9.70 and its 200 day moving average price is $8.96.
InnerWorkings (NASDAQ:INWK) last announced its earnings results on Tuesday, November 8th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $280 million for the quarter, compared to analysts’ expectations of $267.27 million. InnerWorkings had a negative net margin of 3.67% and a positive return on equity of 7.37%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. Equities analysts anticipate that InnerWorkings, Inc. will post $0.33 EPS for the current fiscal year.
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A number of research firms recently issued reports on INWK. Zacks Investment Research downgraded InnerWorkings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 1st. TheStreet upgraded InnerWorkings from a “hold” rating to a “buy” rating in a report on Tuesday, November 22nd.
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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