Hillsdale Investment Management Inc. Buys 17,720 Shares of Proto Labs, Inc. (NYSE:PRLB)

Hillsdale Investment Management Inc. lifted its stake in Proto Labs, Inc. (NYSE:PRLB) by 17.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,094 shares of the industrial products company’s stock after acquiring an additional 17,720 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Proto Labs were worth $4,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PRLB. International Assets Investment Management LLC grew its position in Proto Labs by 3,795.7% during the fourth quarter. International Assets Investment Management LLC now owns 896 shares of the industrial products company’s stock valued at $35,000 after buying an additional 873 shares during the period. Headlands Technologies LLC grew its position in Proto Labs by 224.0% during the first quarter. Headlands Technologies LLC now owns 1,873 shares of the industrial products company’s stock valued at $67,000 after buying an additional 1,295 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Proto Labs during the first quarter valued at approximately $110,000. Tradition Wealth Management LLC grew its position in Proto Labs by 7.8% during the fourth quarter. Tradition Wealth Management LLC now owns 4,192 shares of the industrial products company’s stock valued at $163,000 after buying an additional 305 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in Proto Labs during the fourth quarter valued at approximately $202,000. 84.54% of the stock is currently owned by institutional investors.

Proto Labs Trading Up 3.0 %

Shares of NYSE PRLB traded up $0.99 during mid-day trading on Monday, reaching $33.60. The company had a trading volume of 108,826 shares, compared to its average volume of 157,883. The business’s 50-day moving average is $31.30 and its 200-day moving average is $33.55. The stock has a market cap of $850.62 million, a price-to-earnings ratio of 43.64 and a beta of 1.33. Proto Labs, Inc. has a 52 week low of $23.01 and a 52 week high of $41.87.

Proto Labs (NYSE:PRLB) last posted its quarterly earnings results on Friday, May 3rd. The industrial products company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Proto Labs had a net margin of 3.92% and a return on equity of 2.88%. The firm had revenue of $127.89 million for the quarter, compared to analysts’ expectations of $123.81 million. As a group, equities research analysts forecast that Proto Labs, Inc. will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

PRLB has been the subject of several recent research reports. Craig Hallum cut their target price on shares of Proto Labs from $38.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Monday, May 6th. Benchmark reaffirmed a “buy” rating and set a $45.00 price target on shares of Proto Labs in a research note on Wednesday, May 29th. Finally, Cantor Fitzgerald began coverage on shares of Proto Labs in a research note on Wednesday, June 5th. They set an “overweight” rating and a $44.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.25.

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.