Conestoga Capital Advisors LLC recently announced the acquisition of new stake in Mesa Laboratories Inc. (NASDAQ:MLAB). The institutional investor has increased its shareholding in the Technology company by 23.97% to 0.61 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 11.34% valued currently at $100.58 million. In addition, SSgA Funds Management, Inc. raised its holdings by 11400.0 to 0.21 million shares. And Ranger Investment Management LP has lifted its position by 3.01% or 6082.0 shares – to 0.21 million shares.
With over 0.1 million Mesa Laboratories Inc. (MLAB) shares trading Tuesday and a closing price of $196.24 on the day, the dollar volume was approximately $20.44 million. The shares have shown a negative half year performance of -3.14% and its price on 01/24/23 lost nearly -2.98%. Currently, there are 5.32M common shares owned by the public and among those 5.01M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for MLAB have a consensus price objective of $198.33. The analysts have set the share’s price value over the next 12 months at a high of $215.00 and a low of $175.00. The average price target is 1.05% above its recent price level and a downside to the estimated low will see the stock lose -12.14% over that period. But an upside of 8.73% will see the stock hit the forecast high price target while median target price for the stock is $205.00.
Insiders at the company have transacted a total of 66 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 42 of these insider trades were purchases, accounting for 62,539 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 29,888 shares.
The top 3 mutual fund holders in Mesa Laboratories Inc. are Conestoga Small Cap Fund, iShares Core S&P Small Cap ETF, and Vanguard Total Stock Market Index. Conestoga Small Cap Fund owns 0.39 million shares of the company’s stock, all valued at over $64.86 million. The company bought an additional 64650.0 shares recently to bring their total holdings to about 7.31% of the shares outstanding. iShares Core S&P Small Cap ETF sold 1909.0 shares to see its total holdings shrink to 0.37 million shares valued at over $61.64 million and representing 6.95% of the shares outstanding. Vanguard Total Stock Market Index bought 4230.0 shares to bring its total holdings to over 0.15 million shares at a value of $25.76 million. Vanguard Total Stock Market Index now owns shares totaling to 2.90% of the shares outstanding.
Shares of Mesa Laboratories Inc. (NASDAQ: MLAB) opened at $202.47, up $0.21 from a prior closing price of $202.26. However, the script later moved the day high at 202.50, down -2.98%. The company’s stock has a 5-day price change of 6.60% and 65.53% over the past three months. MLAB shares are trading 18.07% year to date (YTD), with the 12-month market performance down to -33.33% lower. It has a 12-month low price of $114.21 and touched a high of $302.80 over the same period. MLAB has an average intraday trading volume of 78.35K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.54%, 11.41%, and 6.23% respectively.
Institutional ownership of Mesa Laboratories Inc. (NASDAQ: MLAB) shares accounts for 92.50% of the company’s 5.32M shares outstanding. Mutual fund holders own 35.63%, while other institutional holders and individual stakeholders account for 57.97% and 10.75% respectively.
It has a market capitalization of $1.03B and a beta (3y monthly) value of 0.67. The earnings-per-share (ttm) stands at -$0.76. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.63% over the week and 4.39% over the month.
Analysts forecast that Mesa Laboratories Inc. (MLAB) will achieve an EPS of -$0.31 for the current quarter, $0.03 for the next quarter and $0.59 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.38 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was $0.7 a year ago. Earnings per share for the fiscal year are expected to decrease by -45.10%, and 119.71% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Mesa Laboratories Inc. (MLAB) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MLAB, a number of firms have released research notes about the stock. Evercore ISI stated their In-line rating for the stock in a research note on January 04, 2021, with the firm’s price target at $300. KeyBanc Capital Markets coverage for the Mesa Laboratories Inc. (MLAB) stock in a research note released on November 10, 2020 offered a Sector Weight rating with a price target of $287. Evercore ISI on their part issued Outperform rating on August 26, 2019.