Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Buys $496,800.00 in Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard D. Odell bought 54,000 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $9.20 per share, with a total value of $496,800.00. Following the transaction, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at approximately $6,934,978.40. This trade represents a 7.72 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Proficient Auto Logistics Price Performance

Shares of PAL stock traded up $0.51 during trading hours on Friday, reaching $9.66. The stock had a trading volume of 423,762 shares, compared to its average volume of 270,234. The stock has a fifty day simple moving average of $12.70. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10. Proficient Auto Logistics, Inc. has a 12 month low of $8.06 and a 12 month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last announced its earnings results on Friday, November 8th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $89.54 million. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that Proficient Auto Logistics, Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. American Century Companies Inc. purchased a new position in shares of Proficient Auto Logistics in the second quarter worth $20,687,000. Millennium Management LLC purchased a new position in shares of Proficient Auto Logistics in the second quarter worth $14,446,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Proficient Auto Logistics in the second quarter worth $12,077,000. De Lisle Partners LLP increased its stake in shares of Proficient Auto Logistics by 23.8% in the third quarter. De Lisle Partners LLP now owns 557,000 shares of the company’s stock worth $7,906,000 after buying an additional 107,000 shares during the period. Finally, Hood River Capital Management LLC purchased a new position in shares of Proficient Auto Logistics in the second quarter worth $5,600,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PAL. Raymond James cut their target price on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Barrington Research cut their price objective on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus cut their price objective on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, October 17th.

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.