Summit Global Investments Takes $217,000 Position in Proto Labs, Inc. (NYSE:PRLB)

Summit Global Investments purchased a new position in shares of Proto Labs, Inc. (NYSE:PRLB) in the fourth quarter, Holdings Channel reports. The fund purchased 5,573 shares of the industrial products company’s stock, valued at approximately $217,000.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its position in Proto Labs by 3,795.7% during the 4th quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 873 shares during the period. Victory Capital Management Inc. purchased a new stake in Proto Labs in the 4th quarter worth approximately $202,000. Aigen Investment Management LP acquired a new stake in shares of Proto Labs during the 3rd quarter worth approximately $245,000. Arizona State Retirement System purchased a new position in shares of Proto Labs during the 4th quarter valued at approximately $284,000. Finally, Diversified Trust Co acquired a new position in shares of Proto Labs in the 4th quarter valued at $286,000. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Stock Performance

NYSE PRLB opened at $31.37 on Tuesday. Proto Labs, Inc. has a one year low of $23.01 and a one year high of $41.87. The business has a fifty day moving average price of $33.88 and a 200 day moving average price of $34.81. The company has a market cap of $801.82 million, a P/E ratio of 40.74 and a beta of 1.36.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Friday, February 9th. The industrial products company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.05). Proto Labs had a return on equity of 2.88% and a net margin of 3.92%. The business had revenue of $125.10 million during the quarter, compared to analysts’ expectations of $122.81 million. During the same period in the prior year, the business posted ($4.24) earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts predict that Proto Labs, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on PRLB shares. StockNews.com raised shares of Proto Labs from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Needham & Company LLC restated a “hold” rating on shares of Proto Labs in a research report on Monday. Finally, Craig Hallum decreased their target price on Proto Labs from $38.00 to $34.00 and set a “hold” rating on the stock in a research report on Monday.

Proto Labs Company Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.