Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard D. Odell Sells 49,300 Shares

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard D. Odell sold 49,300 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.24, for a total value of $406,232.00. Following the completion of the sale, the chief executive officer now directly owns 836,172 shares in the company, valued at approximately $6,890,057.28. This represents a 5.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Proficient Auto Logistics Price Performance

NASDAQ PAL opened at $8.75 on Wednesday. The stock’s 50 day simple moving average is $8.47 and its 200 day simple moving average is $9.20. Proficient Auto Logistics, Inc. has a one year low of $6.81 and a one year high of $21.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The business had revenue of $95.21 million during the quarter, compared to the consensus estimate of $94.65 million. Sell-side analysts anticipate that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PAL. Barrington Research reissued an “outperform” rating and set a $15.00 price objective on shares of Proficient Auto Logistics in a report on Wednesday, February 12th. Stifel Nicolaus cut their price target on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, May 8th.

Institutional Investors Weigh In On Proficient Auto Logistics

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Proficient Auto Logistics in the fourth quarter worth about $49,000. Wells Fargo & Company MN increased its holdings in shares of Proficient Auto Logistics by 37.9% in the fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock valued at $70,000 after purchasing an additional 2,373 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Proficient Auto Logistics in the 1st quarter worth approximately $73,000. Corebridge Financial Inc. raised its position in Proficient Auto Logistics by 33.6% in the 1st quarter. Corebridge Financial Inc. now owns 10,409 shares of the company’s stock worth $87,000 after purchasing an additional 2,619 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Proficient Auto Logistics during the 4th quarter worth $90,000.

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.