Proficient Auto Logistics (NASDAQ:PAL) CFO Acquires 4,000 Shares

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CFO Bradley Wright bought 4,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $5.55 per share, with a total value of $22,200.00. Following the completion of the transaction, the chief financial officer directly owned 70,200 shares in the company, valued at approximately $389,610. This represents a 6.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Proficient Auto Logistics Price Performance

NASDAQ:PAL traded up $0.02 during mid-day trading on Friday, reaching $5.50. The stock had a trading volume of 703,099 shares, compared to its average volume of 607,984. Proficient Auto Logistics, Inc. has a 12 month low of $4.85 and a 12 month high of $10.97. The stock has a market capitalization of $152.74 million, a PE ratio of -3.90 and a beta of 1.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50-day simple moving average of $7.02 and a two-hundred day simple moving average of $7.01.

Analyst Ratings Changes

Several research analysts have commented on the company. Barrington Research set a $12.00 target price on Proficient Auto Logistics in a research note on Tuesday. Wall Street Zen lowered shares of Proficient Auto Logistics from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Zacks Research cut shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Monday. Stifel Nicolaus increased their price objective on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Weiss Ratings lowered shares of Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

Institutional Trading of Proficient Auto Logistics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Partners raised its holdings in Proficient Auto Logistics by 6.9% in the 3rd quarter. Boston Partners now owns 2,288,113 shares of the company’s stock valued at $15,763,000 after buying an additional 147,101 shares during the last quarter. BlackRock Inc. acquired a new position in shares of Proficient Auto Logistics during the second quarter worth $11,013,000. Vanguard Group Inc. grew its stake in shares of Proficient Auto Logistics by 7.9% in the third quarter. Vanguard Group Inc. now owns 1,135,623 shares of the company’s stock worth $7,824,000 after purchasing an additional 83,148 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Proficient Auto Logistics in the second quarter valued at $7,322,000. Finally, Diamond Hill Capital Management Inc. raised its position in Proficient Auto Logistics by 7.5% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 906,345 shares of the company’s stock worth $8,737,000 after purchasing an additional 62,846 shares during the last quarter.

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.