Proficient Auto Logistics (NASDAQ:PAL) CEO Richard Odell Sells 33,743 Shares

by · The Cerbat Gem

Proficient Auto Logistics, Inc. (NASDAQ:PAL – Get Free Report) CEO Richard Odell sold 33,743 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $5.08, for a total value of $171,414.44. Following the sale, the chief executive officer owned 964,099 shares in the company, valued at approximately $4,897,622.92. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Proficient Auto Logistics Price Performance

Shares of PAL traded up $0.10 during midday trading on Monday, hitting $5.02. 552,429 shares of the company traded hands, compared to its average volume of 319,701. The stock has a 50-day moving average of $6.57 and a 200-day moving average of $8.00. Proficient Auto Logistics, Inc. has a one year low of $4.91 and a one year high of $10.97. The firm has a market cap of $139.41 million, a P/E ratio of -3.77, a PEG ratio of 2.26 and a beta of 1.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently modified their holdings of PAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Proficient Auto Logistics by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock worth $105,000 after buying an additional 3,866 shares during the last quarter. Millennium Management LLC raised its stake in shares of Proficient Auto Logistics by 5.9% during the first quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock worth $5,309,000 after acquiring an additional 35,335 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Proficient Auto Logistics during the first quarter worth approximately $215,000. Jones Financial Companies Lllp bought a new stake in shares of Proficient Auto Logistics in the 1st quarter worth approximately $73,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Proficient Auto Logistics by 138.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 105,585 shares of the company’s stock valued at $884,000 after purchasing an additional 61,272 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PAL shares. Zacks Research downgraded Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research report on Wednesday. Stifel Nicolaus dropped their price target on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Barrington Research set a $10.00 price target on Proficient Auto Logistics in a research report on Monday, May 11th. Two research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.00.

Check Out Our Latest Research Report on PAL

Proficient Auto Logistics Company Profile

(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.

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