Pacific Ridge Capital Partners LLC Sells 28,333 Shares of InnerWorkings, Inc. (INWK)

Pacific Ridge Capital Partners LLC reduced its holdings in InnerWorkings, Inc. (NASDAQ:INWK) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 563,511 shares of the business services provider’s stock after selling 28,333 shares during the period. Pacific Ridge Capital Partners LLC owned 1.08% of InnerWorkings worth $4,463,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sei Investments Co. lifted its position in InnerWorkings by 6.3% during the 2nd 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 period. Bank of New York Mellon Corp raised its stake in shares of InnerWorkings by 8.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 220,552 shares of the business services provider’s stock worth $1,916,000 after buying an additional 16,379 shares in the last quarter. Eagle Boston Investment Management Inc. raised its stake in shares of InnerWorkings by 4.5% during the 2nd quarter. Eagle Boston Investment Management Inc. now owns 1,230,337 shares of the business services provider’s stock worth $10,691,000 after buying an additional 52,799 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of InnerWorkings by 55.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 89,674 shares of the business services provider’s stock worth $780,000 after buying an additional 31,829 shares in the last quarter. Finally, Spark Investment Management LLC raised its stake in shares of InnerWorkings by 55.2% during the 2nd quarter. Spark Investment Management LLC now owns 167,200 shares of the business services provider’s stock worth $1,452,000 after buying an additional 59,500 shares in the last quarter. Hedge funds and other institutional investors own 84.48% of the company’s stock.

A number of brokerages have recently issued reports on INWK. Zacks Investment Research downgraded InnerWorkings from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 14th. TheStreet downgraded InnerWorkings from a “c-” rating to a “d” rating in a research note on Wednesday, November 28th. ValuEngine raised InnerWorkings from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 1st. BidaskClub raised InnerWorkings from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Finally, Barrington Research reissued a “hold” rating on shares of InnerWorkings in a research note on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. InnerWorkings presently has an average rating of “Hold” and an average target price of $11.33.

Shares of INWK stock traded up $0.01 during trading hours on Friday, reaching $4.07. 21,616 shares of the company’s stock were exchanged, compared to its average volume of 424,097. The company has a market cap of $202.99 million, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.12 and a beta of 1.57. InnerWorkings, Inc. has a 1 year low of $3.82 and a 1 year high of $10.59. The company has a current ratio of 1.60, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

InnerWorkings (NASDAQ:INWK) last issued its earnings results on Thursday, November 8th. The business services provider reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). The business had revenue of $270.85 million for the quarter, compared to analysts’ expectations of $294.87 million. InnerWorkings had a positive return on equity of 1.83% and a negative net margin of 4.03%. On average, equities analysts forecast that InnerWorkings, Inc. will post 0.18 earnings per share for the current fiscal year.

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InnerWorkings 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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