Mcclain Value Management Lowers stake in InnerWorkings (INWK)

InnerWorkings (INWK) : Mcclain Value Management reduced its stake in InnerWorkings by 51.09% during the most recent quarter end. The investment management company now holds a total of 1,092,188 shares of InnerWorkings which is valued at $8,770,270 after selling 1,140,650 shares in InnerWorkings , the firm said in a disclosure report filed with the SEC on May 3, 2016.InnerWorkings makes up approximately 7.14% of Mcclain Value Management’s portfolio.

Other Hedge Funds, Including , Parkside Financial Bank Trust reduced its stake in INWK by selling 210 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 4,985 shares of INWK which is valued at $40,030. InnerWorkings makes up approx 0.02% of Parkside Financial Bank Trust’s portfolio. Ifp Advisors Inc sold out all of its stake in INWK during the most recent quarter. The investment firm sold 220 shares of INWK which is valued $1,767.Rhumbline Advisers boosted its stake in INWK in the latest quarter, The investment management firm added 4,150 additional shares and now holds a total of 54,471 shares of InnerWorkings which is valued at $437,402.Thompson Davis reduced its stake in INWK by selling 6,100 shares or 68.93% in the most recent quarter. The Hedge Fund company now holds 2,750 shares of INWK which is valued at $22,083. InnerWorkings makes up approx 0.03% of Thompson Davis’s portfolio.

InnerWorkings opened for trading at $8.58 and hit $8.58 on the upside on Tuesday, eventually ending the session at $8.57, with a gain of 6.06% or 0.49 points. The heightened volatility saw the trading volume jump to 2,14,960 shares. Company has a market cap of $464 M.

On the company’s financial health, InnerWorkings reported $0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on May 9, 2016. Analyst had a consensus of $0.03. The company had revenue of $271.10 million for the quarter, compared to analysts expectations of $248.54 million. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.

InnerWorkings Inc. is global marketing execution company. The Company offers services for Fortune 500 brands across a range of industries. The Company leverages a range of technology supplier network and domain expertise to streamline the creation production and distribution of marketing and promotional materials signage and displays retail experiences events and promotions and product packaging across the world. 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 business of providing marketing execution solutions primarily includes the procurement of marketing materials branded merchandise and retail displays. The Company’s network of more than 10000 global suppliers offers a variety of products and a range of print fulfillment and logistics services.

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