3D Systems (DDD) Shares Gap Up Following Insider Buying Activity

3D Systems Co. (NYSE:DDD) gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $10.21, but opened at $9.61. 3D Systems shares last traded at $9.36, with a volume of 1500120 shares.

Specifically, Director G Walter Loewenbaum II bought 6,430 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was acquired at an average price of $8.81 per share, with a total value of $56,648.30. Following the completion of the transaction, the director now directly owns 1,013,207 shares in the company, valued at approximately $8,926,353.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.00% of the company’s stock.

DDD has been the subject of several recent analyst reports. Deutsche Bank reaffirmed a “hold” rating and issued a $15.00 target price (down previously from $16.00) on shares of 3D Systems in a research report on Wednesday, August 9th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $11.00 target price (down previously from $15.00) on shares of 3D Systems in a research report on Wednesday, November 1st. Citigroup decreased their target price on 3D Systems from $13.00 to $8.50 and set a “sell” rating for the company in a research report on Thursday, November 2nd. ValuEngine cut 3D Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Finally, Bank of America cut 3D Systems from a “buy” rating to an “underperform” rating and raised their target price for the stock from $9.63 to $12.38 in a research report on Wednesday, November 1st. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $12.97.

The company has a current ratio of 2.63, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

3D Systems (NYSE:DDD) last released its quarterly earnings data on Tuesday, October 31st. The 3D printing company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.25). The firm had revenue of $152.90 million for the quarter, compared to analyst estimates of $162.22 million. 3D Systems had a negative net margin of 8.01% and a negative return on equity of 5.85%. 3D Systems’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. research analysts anticipate that 3D Systems Co. will post -0.3 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new position in 3D Systems during the second quarter valued at about $115,000. LS Investment Advisors LLC raised its holdings in 3D Systems by 20.0% during the second quarter. LS Investment Advisors LLC now owns 8,714 shares of the 3D printing company’s stock valued at $163,000 after buying an additional 1,452 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in 3D Systems by 19.4% during the second quarter. PNC Financial Services Group Inc. now owns 9,561 shares of the 3D printing company’s stock valued at $178,000 after buying an additional 1,552 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in 3D Systems by 77.3% during the second quarter. Riverhead Capital Management LLC now owns 9,926 shares of the 3D printing company’s stock valued at $186,000 after buying an additional 4,326 shares in the last quarter. Finally, Flinton Capital Management LLC raised its holdings in 3D Systems by 76.8% during the second quarter. Flinton Capital Management LLC now owns 10,098 shares of the 3D printing company’s stock valued at $189,000 after buying an additional 4,386 shares in the last quarter. Institutional investors own 60.55% of the company’s stock.

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3D Systems 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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