Pinnacle Associates Ltd. Acquires 1,916,783 Shares of 3D Systems Corporation $DDD

Pinnacle Associates Ltd. grew its holdings in 3D Systems Corporation (NYSE:DDD) by 561.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,258,048 shares of the 3D printing company’s stock after acquiring an additional 1,916,783 shares during the quarter. Pinnacle Associates Ltd.’s holdings in 3D Systems were worth $8,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC grew its stake in shares of 3D Systems by 87.4% in the second quarter. NewEdge Advisors LLC now owns 11,873 shares of the 3D printing company’s stock worth $36,000 after acquiring an additional 5,538 shares during the last quarter. WINTON GROUP Ltd bought a new position in 3D Systems during the second quarter worth $56,000. CWA Asset Management Group LLC increased its position in 3D Systems by 14.1% during the third quarter. CWA Asset Management Group LLC now owns 28,292 shares of the 3D printing company’s stock worth $102,000 after acquiring an additional 3,500 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in 3D Systems by 130.8% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 30,000 shares of the 3D printing company’s stock valued at $56,000 after purchasing an additional 17,000 shares during the last quarter. Finally, GC Wealth Management RIA LLC acquired a new position in 3D Systems during the 1st quarter valued at $86,000. 64.49% of the stock is owned by institutional investors.

3D Systems Trading Up 1.0%

Shares of DDD opened at $3.01 on Thursday. 3D Systems Corporation has a 12-month low of $1.70 and a 12-month high of $4.12. The company has a quick ratio of 2.27, a current ratio of 3.40 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $500.11 million, a price-to-earnings ratio of -7.34 and a beta of 2.77. The stock’s 50-day moving average price is $3.35 and its 200 day moving average price is $3.02.

3D Systems (NYSE:DDD) last posted its quarterly earnings results on Monday, August 3rd. The 3D printing company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. 3D Systems had a negative return on equity of 19.56% and a negative net margin of 14.15%. The firm had revenue of $94.60 million during the quarter, compared to analysts’ expectations of $94.01 million. As a group, research analysts predict that 3D Systems Corporation will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on DDD shares. Craig Hallum raised shares of 3D Systems from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a report on Tuesday, August 4th. Weiss Ratings lowered shares of 3D Systems from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, 3D Systems has a consensus rating of “Hold” and a consensus target price of $5.50.

Insider Buying and Selling at 3D Systems

In other news, CEO Jeffrey Graves sold 42,686 shares of 3D Systems stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $3.55, for a total transaction of $151,535.30. Following the sale, the chief executive officer owned 1,231,596 shares of the company’s stock, valued at approximately $4,372,165.80. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.99% of the company’s stock.

3D Systems Company Profile

3D Systems Corporation (NYSE: DDD) develops and provides additive manufacturing technologies, commonly known as 3D printing. The company serves industrial and healthcare customers with systems designed to produce prototypes, production parts, models, and customized components.

Its offerings include 3D printers, printing materials, software, and related services. The company supports multiple additive manufacturing processes and materials, including polymer and metal-based technologies, and provides design, engineering, production, and healthcare solutions for applications such as aerospace, automotive, medical devices, dental products, and industrial manufacturing.

Founded in 1986 by Chuck Hull, the inventor of stereolithography, 3D Systems is widely recognized as one of the pioneers of commercial 3D printing.