Insider Selling: Proficient Auto Logistics (NASDAQ:PAL) CEO Sells 27,191 Shares of Stock

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

Proficient Auto Logistics Stock Up 2.0%

Shares of NASDAQ PAL traded up $0.10 during mid-day trading on Monday, reaching $5.02. The company had a trading volume of 552,429 shares, compared to its average volume of 319,701. The stock has a fifty day moving average of $6.57 and a two-hundred day moving average of $8.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $139.41 million, a price-to-earnings ratio of -3.77, a PEG ratio of 2.26 and a beta of 1.90. Proficient Auto Logistics, Inc. has a 12-month low of $4.91 and a 12-month high of $10.97.

Analyst Ratings Changes

Several equities analysts recently weighed in on PAL shares. Barrington Research set a $10.00 price objective on shares of Proficient Auto Logistics in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Proficient Auto Logistics in a report on Wednesday. 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. Finally, Stifel Nicolaus lowered their price objective on shares of Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $10.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in shares of Proficient Auto Logistics by 77.7% in the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after buying an additional 1,975 shares during the last quarter. FNY Investment Advisers LLC raised its stake in shares of Proficient Auto Logistics by 44.6% during the third quarter. FNY Investment Advisers LLC now owns 5,800 shares of the company’s stock worth $39,000 after buying an additional 1,789 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Proficient Auto Logistics during the first quarter worth approximately $73,000. Odyssean LLC bought a new stake in shares of Proficient Auto Logistics during the fourth quarter worth approximately $98,000. Finally, Invesco Ltd. acquired a new position in shares of Proficient Auto Logistics during the 4th quarter worth about $101,000.

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.