Richard Odell Sells 27,191 Shares of Proficient Auto Logistics (NASDAQ:PAL) Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard Odell sold 27,191 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.03, for a total transaction of $136,770.73. Following the sale, the chief executive officer owned 936,908 shares of the company’s stock, valued at approximately $4,712,647.24. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Proficient Auto Logistics Trading Down 2.0%

Shares of NASDAQ PAL opened at $4.92 on Wednesday. The firm’s 50 day moving average price is $6.54 and its 200-day moving average price is $7.99. Proficient Auto Logistics, Inc. has a 52-week low of $4.91 and a 52-week high of $10.97. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market cap of $136.63 million, a PE ratio of -3.70, a P/E/G ratio of 2.31 and a beta of 1.90.

Institutional Trading of Proficient Auto Logistics

Several hedge funds have recently bought and sold shares of PAL. Diamond Hill Capital Management Inc. raised its stake in shares of Proficient Auto Logistics by 26.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 843,499 shares of the company’s stock worth $5,812,000 after buying an additional 176,880 shares during the period. Optimize Financial Inc grew its stake in shares of Proficient Auto Logistics by 50.0% during the 3rd quarter. Optimize Financial Inc now owns 459,699 shares of the company’s stock valued at $3,167,000 after acquiring an additional 153,233 shares during the period. VELA Investment Management LLC bought a new position in shares of Proficient Auto Logistics during the 3rd quarter valued at approximately $1,385,000. Brightlight Capital Management LP purchased a new stake in Proficient Auto Logistics in the 3rd quarter worth approximately $1,999,000. Finally, Engineers Gate Manager LP purchased a new stake in Proficient Auto Logistics in the 4th quarter worth approximately $140,000.

Wall Street Analyst Weigh In

Several brokerages have commented on PAL. Weiss Ratings reiterated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, May 13th. Barrington Research set a $10.00 price target on Proficient Auto Logistics in a research note on Monday, May 11th. Zacks Research downgraded Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus dropped their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Proficient Auto Logistics presently has a consensus rating of “Hold” and an average price target of $10.00.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.