Pacer Advisors Inc. Increases Holdings in Proto Labs, Inc. (NYSE:PRLB)

Pacer Advisors Inc. boosted its position in Proto Labs, Inc. (NYSE:PRLB - Free Report) by 44,804.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 573,874 shares of the industrial products company's stock after acquiring an additional 572,596 shares during the period. Pacer Advisors Inc. owned 2.34% of Proto Labs worth $16,855,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PRLB. Intech Investment Management LLC purchased a new stake in Proto Labs in the 3rd quarter worth approximately $232,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Proto Labs by 217.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,403 shares of the industrial products company's stock worth $2,009,000 after acquiring an additional 46,866 shares during the period. Meeder Asset Management Inc. boosted its holdings in Proto Labs by 72.3% in the third quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company's stock valued at $131,000 after acquiring an additional 1,873 shares in the last quarter. KBC Group NV boosted its holdings in Proto Labs by 69.3% in the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 631 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Proto Labs in the 3rd quarter worth $524,000. Hedge funds and other institutional investors own 84.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PRLB shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Proto Labs in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $40.00 price objective on shares of Proto Labs in a research report on Monday, November 4th. Craig Hallum upped their target price on Proto Labs from $30.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Finally, StockNews.com cut Proto Labs from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.33.

Insider Activity

In other news, CEO Robert Bodor acquired 3,480 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $28.68 per share, for a total transaction of $99,806.40. Following the acquisition, the chief executive officer now directly owns 80,878 shares in the company, valued at approximately $2,319,581.04. The trade was a 4.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

Proto Labs Price Performance

NYSE:PRLB traded up $1.76 during mid-day trading on Friday, hitting $41.50. 442,557 shares of the company's stock were exchanged, compared to its average volume of 363,557. The company has a market cap of $1.02 billion, a PE ratio of 44.15 and a beta of 1.32. Proto Labs, Inc. has a one year low of $25.75 and a one year high of $41.87. The business has a fifty day moving average price of $31.36 and a 200 day moving average price of $31.10.

Proto Labs (NYSE:PRLB - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The industrial products company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.15. The firm had revenue of $125.60 million for the quarter, compared to analysts' expectations of $121.38 million. Proto Labs had a return on equity of 3.49% and a net margin of 4.76%. The business's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. On average, equities analysts forecast that Proto Labs, Inc. will post 0.84 EPS for the current fiscal year.

About Proto Labs

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.