Insider Selling: Proficient Auto Logistics (NASDAQ:PAL) CEO Sells $136,770.73 in Stock

by · The Cerbat Gem

Proficient Auto Logistics, Inc. (NASDAQ:PAL – Get Free Report) CEO Richard Odell sold 27,191 shares of Proficient Auto Logistics stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.03, for a total value of $136,770.73. Following the transaction, the chief executive officer owned 936,908 shares of the company’s stock, valued at $4,712,647.24. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Proficient Auto Logistics Trading Up 3.7%

Shares of Proficient Auto Logistics stock opened at $5.10 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. Proficient Auto Logistics, Inc. has a 1 year low of $4.85 and a 1 year high of $10.97. The company has a market capitalization of $141.63 million, a P/E ratio of -3.83, a P/E/G ratio of 2.26 and a beta of 1.90. The business has a 50 day moving average price of $6.51 and a 200 day moving average price of $7.97.

Wall Street Analysts Forecast Growth

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

Read Our Latest Report on PAL

Institutional Trading of Proficient Auto Logistics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners increased its position in Proficient Auto Logistics by 6.9% during the 3rd quarter. Boston Partners now owns 2,288,113 shares of the company’s stock worth $15,763,000 after purchasing an additional 147,101 shares in the last quarter. Vanguard Group Inc. increased its position in Proficient Auto Logistics by 7.9% during the 3rd 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 in the last quarter. Diamond Hill Capital Management Inc. increased 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 in the last quarter. Millennium Management LLC increased its position in Proficient Auto Logistics by 5.9% during the 1st quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock worth $5,309,000 after purchasing an additional 35,335 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Proficient Auto Logistics by 4.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 626,442 shares of the company’s stock worth $4,316,000 after purchasing an additional 26,833 shares in the last quarter.

About Proficient Auto Logistics

(Get Free Report)

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.

Further Reading