Insider Selling: Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Sells 15,000 Shares of Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard D. Odell sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $8.15, for a total value of $122,250.00. Following the completion of the sale, the chief executive officer now directly owns 885,472 shares of the company’s stock, valued at $7,216,596.80. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Proficient Auto Logistics Stock Up 6.7%

NASDAQ PAL opened at $8.63 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics, Inc. has a twelve month low of $6.81 and a twelve month high of $21.01. The stock has a fifty day simple moving average of $8.51 and a 200-day simple moving average of $9.20.

Proficient Auto Logistics (NASDAQ:PAL) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The firm had revenue of $95.21 million during the quarter, compared to analyst estimates of $94.65 million. On average, sell-side analysts expect that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of hedge funds have recently modified their holdings of PAL. Barclays PLC purchased a new position in shares of Proficient Auto Logistics during the 3rd quarter worth $311,000. JPMorgan Chase & Co. boosted its holdings in Proficient Auto Logistics by 159,197.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,754 shares of the company’s stock valued at $791,000 after acquiring an additional 55,719 shares during the period. Rhumbline Advisers boosted its holdings in Proficient Auto Logistics by 7.9% during the 4th quarter. Rhumbline Advisers now owns 16,971 shares of the company’s stock valued at $137,000 after acquiring an additional 1,238 shares during the period. Nicholas Hoffman & Company LLC. boosted its holdings in Proficient Auto Logistics by 20.0% during the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company’s stock valued at $121,000 after acquiring an additional 2,500 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Proficient Auto Logistics by 10.8% during the 4th quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company’s stock valued at $272,000 after acquiring an additional 3,287 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PAL shares. Barrington Research reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Proficient Auto Logistics in a research note on Wednesday, February 12th. Stifel Nicolaus cut their target price on Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

About Proficient Auto Logistics

Proficient Auto Logistics, Inc focuses on providing auto transportation and logistics services in North America. It primarily focuses on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a network of automotive dealerships. The company operates approximately 1,130 auto transport vehicles and trailers, including 615 company-owned transport vehicles and trailers.