InnerWorkings (INWK) Upgraded at ValuEngine

InnerWorkings (NASDAQ:INWK) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of InnerWorkings from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 11th. BidaskClub cut shares of InnerWorkings from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. Five analysts have rated the stock with a hold rating, InnerWorkings presently has a consensus rating of “Hold” and an average price target of $10.00.

NASDAQ:INWK opened at $3.98 on Friday. The stock has a market capitalization of $206.40 million, a PE ratio of -49.75 and a beta of 1.55. InnerWorkings has a twelve month low of $3.12 and a twelve month high of $9.26.

InnerWorkings (NASDAQ:INWK) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. InnerWorkings had a negative net margin of 6.91% and a negative return on equity of 1.08%. The firm had revenue of $267.24 million for the quarter, compared to the consensus estimate of $271.13 million. As a group, research analysts anticipate that InnerWorkings will post 0.23 EPS for the current year.

In other news, EVP Oren B. Azar acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $3.90 per share, for a total transaction of $39,000.00. Following the completion of the transaction, the executive vice president now owns 27,402 shares in the company, valued at $106,867.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in INWK. Macquarie Group Ltd. increased its position in shares of InnerWorkings by 38.9% during the fourth quarter. Macquarie Group Ltd. now owns 7,140 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 2,000 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of InnerWorkings by 2,918.9% in the fourth quarter. Bank of Montreal Can now owns 8,936 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 8,640 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of InnerWorkings by 126.7% in the first quarter. BNP Paribas Arbitrage SA now owns 9,320 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 5,209 shares in the last quarter. Menta Capital LLC acquired a new position in shares of InnerWorkings in the first quarter valued at approximately $43,000. Finally, Mackay Shields LLC acquired a new position in shares of InnerWorkings in the fourth quarter valued at approximately $48,000. Institutional investors and hedge funds own 78.15% of the company’s stock.

About InnerWorkings

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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