Cornercap Investment Counsel Inc. Sells 8,811 Shares of Proto Labs, Inc. (NYSE:PRLB)

Cornercap Investment Counsel Inc. lowered its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 52.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,842 shares of the industrial products company’s stock after selling 8,811 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Proto Labs were worth $230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PRLB. Marshall Wace LLP lifted its position in shares of Proto Labs by 81.6% in the 2nd quarter. Marshall Wace LLP now owns 42,800 shares of the industrial products company’s stock worth $1,322,000 after purchasing an additional 19,232 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Proto Labs during the first quarter valued at about $1,560,000. Vanguard Group Inc. raised its position in shares of Proto Labs by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 2,980,157 shares of the industrial products company’s stock valued at $106,541,000 after purchasing an additional 57,894 shares during the last quarter. Quest Partners LLC grew its position in Proto Labs by 146.5% during the 2nd quarter. Quest Partners LLC now owns 30,403 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 18,068 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Proto Labs during the second quarter valued at $629,000. Hedge funds and other institutional investors own 84.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Craig Hallum lifted their price objective on shares of Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $40.00 price objective on shares of Proto Labs in a report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Proto Labs in a research note on Friday, November 1st. Finally, StockNews.com downgraded shares of Proto Labs from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Proto Labs presently has a consensus rating of “Moderate Buy” and an average target price of $40.33.

Proto Labs Trading Down 0.5 %

Shares of Proto Labs stock opened at $37.29 on Tuesday. Proto Labs, Inc. has a twelve month low of $25.75 and a twelve month high of $41.87. The firm has a market capitalization of $913.98 million, a PE ratio of 39.67 and a beta of 1.32. The firm’s 50-day moving average price is $30.80 and its 200 day moving average price is $30.94.

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

Insider Activity

In other news, CEO Robert Bodor bought 3,480 shares of the 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 of the company’s stock, valued at $2,319,581.04. The trade was a 4.50 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.

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.