Assenagon Asset Management S.A. Takes Position in InnerWorkings, Inc. (INWK)

Assenagon Asset Management S.A. acquired a new position in InnerWorkings, Inc. (NASDAQ:INWK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 177,400 shares of the business services provider’s stock, valued at approximately $1,405,000. Assenagon Asset Management S.A. owned about 0.34% of InnerWorkings at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Eagle Boston Investment Management Inc. grew its stake in shares of InnerWorkings by 4.5% in the second quarter. Eagle Boston Investment Management Inc. now owns 1,230,337 shares of the business services provider’s stock worth $10,691,000 after acquiring an additional 52,799 shares during the last quarter. Engine Capital Management LP grew its stake in shares of InnerWorkings by 113.7% in the second quarter. Engine Capital Management LP now owns 980,391 shares of the business services provider’s stock worth $8,520,000 after acquiring an additional 521,585 shares during the last quarter. Scout Investments Inc. grew its stake in shares of InnerWorkings by 26.3% in the third quarter. Scout Investments Inc. now owns 519,560 shares of the business services provider’s stock worth $4,115,000 after acquiring an additional 108,068 shares during the last quarter. Sei Investments Co. grew its stake in shares of InnerWorkings by 6.3% in the second quarter. Sei Investments Co. now owns 509,232 shares of the business services provider’s stock worth $4,425,000 after acquiring an additional 30,060 shares during the last quarter. Finally, Carillon Tower Advisers Inc. grew its stake in shares of InnerWorkings by 47.0% in the second quarter. Carillon Tower Advisers Inc. now owns 389,611 shares of the business services provider’s stock worth $3,386,000 after acquiring an additional 124,628 shares during the last quarter. Institutional investors and hedge funds own 82.54% of the company’s stock.

Several brokerages have recently issued reports on INWK. BidaskClub downgraded shares of InnerWorkings from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research upgraded shares of InnerWorkings from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 24th. ValuEngine upgraded shares of InnerWorkings from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. Barrington Research restated a “hold” rating on shares of InnerWorkings in a research note on Wednesday, August 22nd. Finally, Craig Hallum downgraded shares of InnerWorkings from a “buy” rating to a “hold” rating and set a $10.00 price objective on the stock. in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.33.

In other news, CEO Richard S. Stoddart bought 6,847 shares of InnerWorkings stock in a transaction that occurred on Tuesday, August 21st. The stock was purchased at an average cost of $7.67 per share, with a total value of $52,516.49. Following the completion of the transaction, the chief executive officer now directly owns 85,878 shares in the company, valued at $658,684.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by company insiders.

Shares of InnerWorkings stock opened at $4.24 on Friday. The firm has a market capitalization of $373.55 million, a PE ratio of 10.34, a P/E/G ratio of 1.74 and a beta of 1.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.92 and a current ratio of 1.04. InnerWorkings, Inc. has a 1 year low of $3.93 and a 1 year high of $11.04.

InnerWorkings (NASDAQ:INWK) last announced its quarterly earnings data on Thursday, November 8th. The business services provider reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.08). The company had revenue of $270.85 million during the quarter, compared to analyst estimates of $294.87 million. InnerWorkings had a return on equity of 3.93% and a net margin of 0.61%. On average, sell-side analysts anticipate that InnerWorkings, Inc. will post 0.31 earnings per share for the current year.

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InnerWorkings Company Profile

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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Institutional Ownership by Quarter for InnerWorkings (NASDAQ:INWK)

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