InnerWorkings, Inc. (NASDAQ:INWK) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 2,183,221 shares, an increase of 30.2% from the February 15th total of 1,676,675 shares. Based on an average daily trading volume, of 264,347 shares, the short-interest ratio is currently 8.3 days. Approximately 4.7% of the company’s stock are sold short.
Institutional investors have recently modified their holdings of the company. ArrowMark Colorado Holdings LLC boosted its stake in InnerWorkings by 40.8% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 4,105,898 shares of the business services provider’s stock worth $41,182,000 after purchasing an additional 1,189,560 shares during the period. American Century Companies Inc. boosted its stake in InnerWorkings by 53.6% during the 4th quarter. American Century Companies Inc. now owns 2,115,965 shares of the business services provider’s stock worth $21,223,000 after purchasing an additional 738,351 shares during the period. Millennium Management LLC acquired a new stake in InnerWorkings during the 4th quarter worth $3,857,000. Cardinal Capital Management LLC CT boosted its stake in InnerWorkings by 18.8% during the 4th quarter. Cardinal Capital Management LLC CT now owns 2,138,402 shares of the business services provider’s stock worth $21,448,000 after purchasing an additional 337,828 shares during the period. Finally, Deutsche Bank AG boosted its stake in InnerWorkings by 92.8% during the 4th quarter. Deutsche Bank AG now owns 508,221 shares of the business services provider’s stock worth $5,097,000 after purchasing an additional 244,608 shares during the period. Institutional investors and hedge funds own 81.13% of the company’s stock.
InnerWorkings (NASDAQ:INWK) opened at $9.66 on Tuesday. InnerWorkings has a twelve month low of $8.19 and a twelve month high of $12.03. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 1.63. The stock has a market cap of $521.20, a price-to-earnings ratio of 23.56, a PEG ratio of 1.20 and a beta of 1.65.
Separately, Zacks Investment Research upgraded shares of InnerWorkings from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.40.
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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’s segments include North America and International.
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