Mcclain Value Management Lowers stake in InnerWorkings (INWK)

InnerWorkings (INWK) : Mcclain Value Management reduced its stake in InnerWorkings by 19.18% during the most recent quarter end. The investment management company now holds a total of 882,681 shares of InnerWorkings which is valued at $7,493,962 after selling 209,507 shares in InnerWorkings , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.InnerWorkings makes up approximately 6.00% of Mcclain Value Management’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust reduced its stake in INWK by selling 307 shares or 4.99% in the most recent quarter. The Hedge Fund company now holds 5,846 shares of INWK which is valued at $49,633. InnerWorkings makes up approx 0.01% of Finemark National Bank Trust’s portfolio.First Trust Advisors Lp reduced its stake in INWK by selling 1,522 shares or 7.13% in the most recent quarter. The Hedge Fund company now holds 19,815 shares of INWK which is valued at $164,068.Ami Asset Management Corp reduced its stake in INWK by selling 4,595 shares or 0.24% in the most recent quarter. The Hedge Fund company now holds 1,884,717 shares of INWK which is valued at $16,283,955. InnerWorkings makes up approx 1.09% of Ami Asset Management Corp’s portfolio.

InnerWorkings closed down -0.03 points or -0.32% at $9.24 with 1,47,330 shares getting traded on Wednesday. Post opening the session at $9.23, the shares hit an intraday low of $9.16 and an intraday high of $9.45 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, InnerWorkings reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 15, 2016. Analyst had a consensus of $0.04. The company had revenue of $269.20 million for the quarter, compared to analysts expectations of $264.05 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.04 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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