Connor Clark & Lunn Investment Management Ltd. Lowers Position in Proto Labs, Inc. (NYSE:PRLB)
Connor Clark & Lunn Investment Management Ltd. cut its stake in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 69.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,172 shares of the industrial products company's stock after selling 14,281 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Proto Labs were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new position in shares of Proto Labs in the second quarter valued at approximately $29,000. Quantbot Technologies LP bought a new position in shares of Proto Labs in the second quarter valued at approximately $30,000. State of Wyoming grew its holdings in shares of Proto Labs by 40.0% in the fourth quarter. State of Wyoming now owns 1,505 shares of the industrial products company's stock valued at $38,000 after acquiring an additional 430 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Proto Labs by 339.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,684 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Proto Labs by 58.5% in the third quarter. Tower Research Capital LLC TRC now owns 2,454 shares of the industrial products company's stock valued at $89,000 after acquiring an additional 906 shares in the last quarter. 83.97% of the stock is owned by hedge funds and other institutional investors.
Proto Labs stock opened at $29.17 on Tuesday. Proto Labs, Inc. has a one year low of $22.04 and a one year high of $40.93. The business has a fifty day moving average price of $32.48 and a 200-day moving average price of $32.08. The firm has a market capitalization of $761.05 million, a P/E ratio of -7.27 and a beta of 1.20.
Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings results on Friday, August 4th. The industrial products company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.03. Proto Labs had a negative return on equity of 15.15% and a negative net margin of 22.42%. The firm had revenue of $122.30 million during the quarter, compared to analyst estimates of $123.88 million. During the same period last year, the company earned $0.09 earnings per share. The business's revenue for the quarter was down 3.6% on a year-over-year basis. Sell-side analysts expect that Proto Labs, Inc. will post 0.28 earnings per share for the current fiscal year.
Several research firms have recently issued reports on PRLB. StockNews.com began coverage on Proto Labs in a report on Thursday, August 17th. They issued a "buy" rating for the company. Craig Hallum raised Proto Labs from a "sell" rating to a "hold" rating and increased their price objective for the company from $26.00 to $28.00 in a report on Friday, August 4th. Finally, Lake Street Capital increased their price objective on Proto Labs from $41.00 to $42.00 and gave the company a "buy" rating in a report on Monday, August 7th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $38.33.
Check Out Our Latest Analysis on PRLB
Proto Labs, Inc, together with its subsidiaries, operates as an e-commerce digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts.
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