Versor Investments LP Acquires New Holdings in Proto Labs, Inc. (NYSE:PRLB)

Versor Investments LP bought a new position in Proto Labs, Inc. (NYSE:PRLB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,016 shares of the industrial products company’s stock, valued at approximately $235,000.

A number of other hedge funds have also added to or reduced their stakes in PRLB. KBC Group NV boosted its holdings in shares of Proto Labs by 69.3% in the third quarter. KBC Group NV now owns 1,541 shares of the industrial products company’s stock worth $45,000 after buying an additional 631 shares during the last quarter. Modus Advisors LLC bought a new position in Proto Labs in the fourth quarter worth approximately $87,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Proto Labs by 40.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,108 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 1,186 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Proto Labs by 72.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,465 shares of the industrial products company’s stock worth $131,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in Proto Labs in the 3rd quarter worth $201,000. 84.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PRLB has been the subject of a number of analyst reports. Cantor Fitzgerald upped their price target on Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.67.

Proto Labs Stock Down 1.1 %

NYSE PRLB opened at $37.86 on Wednesday. Proto Labs, Inc. has a twelve month low of $25.75 and a twelve month high of $46.73. The business has a 50-day moving average price of $40.52 and a 200-day moving average price of $36.02. The firm has a market cap of $917.36 million, a price-to-earnings ratio of 58.24 and a beta of 1.45.

Proto Labs announced that its Board of Directors has initiated a share repurchase plan on Friday, February 7th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 9.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.