Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Xometry, Inc. (NASDAQ:XMTR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Xometry, Inc. by 54.0%, acquiring 65,625 additional shares, bringing its total ownership to approximately 0.37% of the company worth $4.66 million.
• Xometry's stock has shown volatility, trading at $47.46 recently, with a market capitalization of $2.41 billion and a one-year high of $48.60, indicating a strong upward trend.
• Following Xometry's recent earnings report, the company beat expectations with $0.09 EPS for the quarter and reported a 22.6% increase in revenue compared to the same period last year.

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Xometry, Inc. (NASDAQ:XMTR - Free Report) by 54.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 187,064 shares of the company's stock after buying an additional 65,625 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.37% of Xometry worth $4,662,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. grew its stake in shares of Xometry by 264.2% during the first quarter. Federated Hermes Inc. now owns 37,271 shares of the company's stock worth $929,000 after buying an additional 27,036 shares during the last quarter. State of Wyoming grew its stake in shares of Xometry by 8.2% during the fourth quarter. State of Wyoming now owns 8,876 shares of the company's stock worth $379,000 after buying an additional 676 shares during the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Xometry during the first quarter worth $420,000. GAMMA Investing LLC grew its stake in shares of Xometry by 6,381.9% during the first quarter. GAMMA Investing LLC now owns 25,020 shares of the company's stock worth $623,000 after buying an additional 24,634 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Xometry by 259.0% during the first quarter. SG Americas Securities LLC now owns 50,035 shares of the company's stock worth $1,247,000 after buying an additional 36,097 shares during the last quarter. Institutional investors own 97.31% of the company's stock.

Insider Activity at Xometry

In related news, CEO Randolph Altschuler sold 9,332 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $32.39, for a total value of $302,263.48. Following the transaction, the chief executive officer owned 319,602 shares of the company's stock, valued at approximately $10,351,908.78. This trade represents a 2.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.66% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Xometry from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. UBS Group boosted their price objective on shares of Xometry from $35.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada boosted their price objective on shares of Xometry from $32.00 to $36.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 7th. Cantor Fitzgerald raised shares of Xometry from an "underweight" rating to a "neutral" rating and set a $41.00 price objective on the stock in a research note on Tuesday, August 5th. Finally, JMP Securities boosted their price objective on shares of Xometry from $45.00 to $50.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.44.

Xometry Stock Up 1.1%

Shares of NASDAQ XMTR traded up $0.50 during trading on Friday, hitting $47.68. 617,195 shares of the company traded hands, compared to its average volume of 1,025,730. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of -38.76 and a beta of 0.83. The business's fifty day moving average is $35.30 and its 200 day moving average is $31.05. The company has a debt-to-equity ratio of 1.20, a quick ratio of 3.85 and a current ratio of 3.91. Xometry, Inc. has a fifty-two week low of $16.11 and a fifty-two week high of $48.60.

Xometry (NASDAQ:XMTR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.04. The company had revenue of $162.55 million for the quarter, compared to analysts' expectations of $156.53 million. Xometry had a negative net margin of 10.20% and a negative return on equity of 6.79%. The business's revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) EPS. Equities research analysts predict that Xometry, Inc. will post -0.66 earnings per share for the current fiscal year.

Xometry Profile

Xometry, Inc operates an online marketplace that enables buyers to source custom-manufactured parts and assemblies in the United States and internationally. It provides computer numerical control manufacturing, sheet metal forming, and sheet cutting; 3D printing, including fused deposition modeling, direct metal laser sintering, PolyJet, stereolithography, selective laser sintering, binder jetting, carbon digital light synthesis, multi jet fusion, and lubricant sublayer photo-curing; and die casting, stamping, injection molding, urethane casting, tube cutting, and tube bending, as well as finishing services, rapid prototyping, and high-volume production services.