Dark Forest Capital Management LP Invests $448,000 in Proto Labs, Inc. (NYSE:PRLB)

Dark Forest Capital Management LP purchased a new stake in shares of Proto Labs, Inc. (NYSE:PRLB - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,469 shares of the industrial products company's stock, valued at approximately $448,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Proto Labs by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,300,864 shares of the industrial products company's stock worth $50,851,000 after purchasing an additional 68,006 shares during the period. First Trust Advisors LP grew its position in Proto Labs by 71.9% during the fourth quarter. First Trust Advisors LP now owns 738,576 shares of the industrial products company's stock worth $28,871,000 after buying an additional 308,970 shares in the last quarter. Geode Capital Management LLC increased its stake in Proto Labs by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 585,809 shares of the industrial products company's stock worth $17,209,000 after acquiring an additional 4,285 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Proto Labs by 2.7% during the 4th quarter. Renaissance Technologies LLC now owns 571,851 shares of the industrial products company's stock valued at $22,354,000 after acquiring an additional 15,000 shares during the last quarter. Finally, S Squared Technology LLC grew its holdings in shares of Proto Labs by 5.1% during the fourth quarter. S Squared Technology LLC now owns 307,003 shares of the industrial products company's stock worth $12,001,000 after purchasing an additional 15,000 shares in the last quarter. 84.54% of the stock is owned by hedge funds and other institutional investors.

Proto Labs Trading Up 9.2 %

Shares of PRLB traded up $3.30 during mid-day trading on Friday, reaching $39.10. The company's stock had a trading volume of 122,437 shares, compared to its average volume of 233,009. Proto Labs, Inc. has a 52 week low of $25.76 and a 52 week high of $46.73. The stock has a market cap of $929.40 million, a PE ratio of 60.19 and a beta of 1.52. The company's fifty day moving average price is $35.67 and its two-hundred day moving average price is $37.74.

Proto Labs (NYSE:PRLB - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The industrial products company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.14). Proto Labs had a return on equity of 2.44% and a net margin of 3.31%. The business had revenue of $126.21 million during the quarter, compared to the consensus estimate of $123.71 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. Research analysts anticipate that Proto Labs, Inc. will post 0.81 EPS for the current year.

Proto Labs declared that its Board of Directors has initiated a stock repurchase program on Friday, February 7th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 9.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PRLB shares. Cantor Fitzgerald raised their target price on shares of Proto Labs from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. StockNews.com downgraded shares of Proto Labs from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Proto Labs in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.67.

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.