Proficient Auto Logistics (NASDAQ:PAL) Director Purchases $63,800.00 in Stock
by Tristan Rich · The Markets DailyProficient Auto Logistics, Inc. (NASDAQ:PAL – Get Free Report) Director Rohit Lal purchased 10,000 shares of the business’s stock in a transaction on Monday, March 16th. The stock was purchased at an average cost of $6.38 per share, for a total transaction of $63,800.00. Following the acquisition, the director owned 20,000 shares in the company, valued at approximately $127,600. The trade was a 100.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Proficient Auto Logistics Trading Down 1.9%
Shares of PAL stock traded down $0.12 during mid-day trading on Tuesday, reaching $6.28. The stock had a trading volume of 282,235 shares, compared to its average volume of 258,880. The firm has a market capitalization of $174.77 million, a PE ratio of -5.15, a price-to-earnings-growth ratio of 2.33 and a beta of 2.45. The stock’s 50-day moving average price is $8.60 and its two-hundred day moving average price is $8.08. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17. Proficient Auto Logistics, Inc. has a 52-week low of $5.76 and a 52-week high of $10.97.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus cut 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. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.00.
Read Our Latest Analysis on PAL
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in PAL. Boston Partners grew its stake in Proficient Auto Logistics by 6.9% in the 3rd quarter. Boston Partners now owns 2,288,113 shares of the company’s stock worth $15,763,000 after acquiring an additional 147,101 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Proficient Auto Logistics by 18.2% during the second quarter. American Century Companies Inc. now owns 1,795,883 shares of the company’s stock valued at $13,038,000 after acquiring an additional 276,269 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 valued at $7,824,000 after purchasing an additional 83,148 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Proficient Auto Logistics by 7.5% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 906,345 shares of the company’s stock valued at $8,737,000 after purchasing an additional 62,846 shares during the period. Finally, Millennium Management LLC grew its stake in Proficient Auto Logistics by 5.9% in the first 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.
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.