Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Sells $406,232.00 in Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard D. Odell sold 49,300 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.24, for a total transaction of $406,232.00. Following the completion of the transaction, the chief executive officer now owns 836,172 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink.

Proficient Auto Logistics Stock Down 2.8%

Shares of Proficient Auto Logistics stock opened at $7.67 on Friday. The firm’s 50-day moving average price is $8.39 and its two-hundred day moving average price is $9.19. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics, Inc. has a 1-year low of $6.81 and a 1-year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The company had revenue of $95.21 million during the quarter, compared to analyst estimates of $94.65 million. On average, sell-side analysts expect that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of hedge funds have recently added to or reduced their stakes in PAL. 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 grew its stake in shares of Proficient Auto Logistics by 37.9% during 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 during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Proficient Auto Logistics in the first quarter valued at approximately $73,000. Corebridge Financial Inc. increased its holdings in shares of Proficient Auto Logistics by 33.6% in the first quarter. Corebridge Financial Inc. now owns 10,409 shares of the company’s stock valued at $87,000 after purchasing an additional 2,619 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in Proficient Auto Logistics in the 4th quarter worth approximately $90,000.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Barrington Research reiterated an “outperform” rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a research report on Wednesday, February 12th.

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.