Proficient Auto Logistics (NASDAQ:PAL) CFO Acquires $16,129.80 in Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CFO Bradley Wright bought 3,132 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average cost of $5.15 per share, for a total transaction of $16,129.80. Following the transaction, the chief financial officer owned 66,020 shares of the company’s stock, valued at $340,003. The trade was a 4.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Proficient Auto Logistics Stock Performance

PAL stock traded down $0.36 during midday trading on Friday, hitting $4.92. The company’s stock had a trading volume of 502,807 shares, compared to its average volume of 317,156. The stock’s 50-day moving average price is $6.61 and its 200 day moving average price is $8.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. Proficient Auto Logistics, Inc. has a 1 year low of $4.91 and a 1 year high of $10.97. The stock has a market cap of $136.43 million, a price-to-earnings ratio of -3.70, a PEG ratio of 2.50 and a beta of 1.90.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership purchased a new position in shares of Proficient Auto Logistics during the 1st quarter valued at $212,000. Liberty Square Wealth Partners LLC purchased a new position in shares of Proficient Auto Logistics during the 1st quarter valued at $422,000. Fifth Third Bancorp purchased a new position in shares of Proficient Auto Logistics during the 1st quarter valued at $167,000. Nicholas Hoffman & Company LLC. lifted its position in shares of Proficient Auto Logistics by 60.0% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 40,000 shares of the company’s stock valued at $271,000 after buying an additional 15,000 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Proficient Auto Logistics during the 4th quarter valued at $101,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PAL. Stifel Nicolaus cut their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Zacks Research cut Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Proficient Auto Logistics in a research report on Wednesday. Finally, Barrington Research set a $10.00 price objective on Proficient Auto Logistics in a research report on Monday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Proficient Auto Logistics currently has an average rating of “Hold” and a consensus target price of $10.00.

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.