Proficient Auto Logistics (NASDAQ:PAL) CFO Bradley Wright Purchases 3,132 Shares

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CFO Bradley Wright bought 3,132 shares of the stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $5.15 per share, with a total value of $16,129.80. Following the completion of the acquisition, the chief financial officer owned 66,020 shares of the company’s stock, valued at $340,003. This represents a 4.98% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Proficient Auto Logistics Stock Down 6.8%

Shares of NASDAQ PAL traded down $0.36 during midday trading on Friday, hitting $4.92. 502,807 shares of the stock traded hands, compared to its average volume of 317,156. The company has a market cap of $136.43 million, a PE ratio of -3.70, a P/E/G ratio of 2.50 and a beta of 1.90. Proficient Auto Logistics, Inc. has a one year low of $4.91 and a one year high of $10.97. The business has a 50 day moving average price of $6.61 and a two-hundred day moving average price of $8.01. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.12 and a current ratio of 1.12.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Proficient Auto Logistics in a report on Wednesday. Stifel Nicolaus decreased their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Barrington Research set a $10.00 price objective on Proficient Auto Logistics in a report on Monday. Finally, Zacks Research downgraded Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Proficient Auto Logistics currently has an average rating of “Hold” and an average price target of $10.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Diamond Hill Capital Management Inc. boosted its position in shares of Proficient Auto Logistics by 26.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 843,499 shares of the company’s stock valued at $5,812,000 after buying an additional 176,880 shares during the last quarter. Optimize Financial Inc boosted its position in shares of Proficient Auto Logistics by 50.0% during the third quarter. Optimize Financial Inc now owns 459,699 shares of the company’s stock valued at $3,167,000 after buying an additional 153,233 shares during the last quarter. VELA Investment Management LLC purchased a new position in shares of Proficient Auto Logistics during the third quarter valued at approximately $1,385,000. Brightlight Capital Management LP purchased a new position in shares of Proficient Auto Logistics during the third quarter valued at approximately $1,999,000. Finally, Liberty Square Wealth Partners LLC purchased a new position in shares of Proficient Auto Logistics during the first quarter valued at approximately $422,000.

Proficient Auto Logistics Company Profile

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.