3D Systems Corporation (DDD) Position Raised by Concourse Capital Management LLC
Concourse Capital Management LLC boosted its stake in 3D Systems Corporation (NYSE:DDD) by 436.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,337 shares of the 3D printing company’s stock after purchasing an additional 51,527 shares during the quarter. Concourse Capital Management LLC owned about 0.06% of 3D Systems Corporation worth $1,184,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DDD. Strs Ohio acquired a new position in 3D Systems Corporation in the second quarter valued at about $115,000. LS Investment Advisors LLC grew its stake in 3D Systems Corporation by 20.0% in the second quarter. LS Investment Advisors LLC now owns 8,714 shares of the 3D printing company’s stock valued at $163,000 after acquiring an additional 1,452 shares during the period. Riverhead Capital Management LLC grew its stake in 3D Systems Corporation by 77.3% in the second quarter. Riverhead Capital Management LLC now owns 9,926 shares of the 3D printing company’s stock valued at $186,000 after acquiring an additional 4,326 shares during the period. Trent Capital Management Inc. NC acquired a new position in 3D Systems Corporation in the second quarter valued at about $200,000. Finally, Advantus Capital Management Inc grew its stake in 3D Systems Corporation by 3.8% in the first quarter. Advantus Capital Management Inc now owns 13,764 shares of the 3D printing company’s stock valued at $206,000 after acquiring an additional 498 shares during the period. Institutional investors and hedge funds own 56.73% of the company’s stock.
A number of research analysts have issued reports on DDD shares. Piper Jaffray Companies boosted their target price on 3D Systems Corporation from $11.00 to $14.00 and gave the company an “underweight” rating in a research note on Wednesday, May 24th. Canaccord Genuity reissued a “hold” rating and issued a $15.00 target price on shares of 3D Systems Corporation in a research note on Friday, May 26th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $18.00 target price (up from $15.00) on shares of 3D Systems Corporation in a research note on Monday, June 26th. BidaskClub cut 3D Systems Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research raised 3D Systems Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. 3D Systems Corporation currently has a consensus rating of “Hold” and an average price target of $16.33.
3D Systems Corporation (DDD) traded down 0.07% on Friday, hitting $13.68. The stock had a trading volume of 1,035,125 shares. The company has a 50-day moving average price of $13.43 and a 200-day moving average price of $16.68. 3D Systems Corporation has a 52 week low of $12.02 and a 52 week high of $23.70. The stock’s market capitalization is $1.56 billion.
3D Systems Corporation (NYSE:DDD) last issued its earnings results on Wednesday, August 2nd. The 3D printing company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). 3D Systems Corporation had a negative net margin of 5.39% and a positive return on equity of 1.69%. The firm had revenue of $159.47 million during the quarter, compared to the consensus estimate of $163.01 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that 3D Systems Corporation will post $0.44 earnings per share for the current fiscal year.
In other news, insider Vyomesh Joshi bought 15,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average cost of $12.96 per share, with a total value of $199,584.00. Following the transaction, the insider now directly owns 165,400 shares of the company’s stock, valued at approximately $2,143,584. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.00% of the company’s stock.
3D Systems Corporation Company Profile
3D Systems Corporation is a holding company. The Company provides three-dimensional (3D) printing solutions, including 3D printers, print materials, software, on demand manufacturing services and digital design tools. Its precision healthcare capabilities include simulation, Virtual Surgical Planning (VSP), and printing of medical and dental devices and surgical guides and instruments.
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