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 Proficient Auto Logistics stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.03, for a total value of $136,770.73. Following the transaction, the chief executive officer owned 936,908 shares in the company, valued at $4,712,647.24. This trade represents a 2.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 trading on Monday, hitting $5.02. 552,429 shares of the company’s stock traded hands, compared to its average volume of 319,701. Proficient Auto Logistics, Inc. has a 52 week low of $4.91 and a 52 week high of $10.97. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The company has a market cap of $139.41 million, a price-to-earnings ratio of -3.77, a price-to-earnings-growth ratio of 2.26 and a beta of 1.90. The company has a 50-day moving average price of $6.57 and a 200-day moving average price of $8.00.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PAL shares. Stifel Nicolaus cut their target price on 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. Barrington Research set a $10.00 target price on Proficient Auto Logistics in a research note on Monday, May 11th. Zacks Research cut Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PAL. BNP Paribas Financial Markets increased its holdings in shares of Proficient Auto Logistics by 77.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after acquiring an additional 1,975 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Proficient Auto Logistics by 44.6% in the 3rd quarter. FNY Investment Advisers LLC now owns 5,800 shares of the company’s stock valued at $39,000 after buying an additional 1,789 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Proficient Auto Logistics in the 1st quarter valued at $73,000. Alliancebernstein L.P. lifted its position in shares of Proficient Auto Logistics by 15.0% during the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after acquiring an additional 1,800 shares during the period. Finally, Odyssean LLC bought a new stake in shares of Proficient Auto Logistics during the 4th quarter valued at $98,000.

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.