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May 21, 2023

Connor Clark & Lunn Investment Management Ltd. Grows Position in Proto Labs, Inc. (NYSE:PRLB)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Proto Labs, Inc. (NYSE:PRLB - Get Rating) by 22.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,453 shares of the industrial products company's stock after purchasing an additional 3,762 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Proto Labs worth $522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in Proto Labs in the 2nd quarter valued at about $29,000. Allspring Global Investments Holdings LLC acquired a new stake in Proto Labs in the 3rd quarter valued at about $30,000. Quantbot Technologies LP acquired a new stake in Proto Labs in the 2nd quarter valued at about $30,000. Gladius Capital Management LP acquired a new stake in Proto Labs in the 4th quarter valued at about $36,000. Finally, Nisa Investment Advisors LLC raised its position in Proto Labs by 339.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,684 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 1,301 shares in the last quarter. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

PRLB has been the topic of a number of analyst reports. Lake Street Capital increased their price target on Proto Labs from $37.50 to $40.00 in a research report on Monday, February 13th. StockNews.com initiated coverage on Proto Labs in a report on Thursday, May 18th. They issued a "buy" rating on the stock. Craig Hallum increased their price objective on Proto Labs from $20.00 to $25.00 and gave the company a "sell" rating in a report on Monday, February 13th. Benchmark raised Proto Labs from a "hold" rating to a "buy" rating and set a $45.00 price target on the stock in a research report on Monday, February 13th. Finally, TheStreet lowered Proto Labs from a "c-" rating to a "d" rating in a research report on Friday, February 10th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.67.

NYSE:PRLB opened at $31.41 on Friday. The firm has a market cap of $822.94 million, a P/E ratio of -8.03 and a beta of 1.18. The stock's 50 day simple moving average is $30.76 and its 200-day simple moving average is $29.37. Proto Labs, Inc. has a 12-month low of $22.04 and a 12-month high of $53.00.

Proto Labs, Inc engages in the manufacture of custom prototypes and production parts. It offers 3D printing, CNC machining, and injection molding services. The company was founded by Lawrence J. Lukis and Gregg Bloom on May 5, 1999 and is headquartered in Maple Plain, MN.

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