Brightlight Capital Management LP Takes Position in Proficient Auto Logistics, Inc. $PAL

Brightlight Capital Management LP acquired a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 290,077 shares of the company’s stock, valued at approximately $1,999,000. Proficient Auto Logistics accounts for about 1.2% of Brightlight Capital Management LP’s portfolio, making the stock its 10th largest position.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in 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 purchasing an additional 1,975 shares during the period. Jones Financial Companies Lllp purchased a new position in Proficient Auto Logistics during the first quarter worth approximately $73,000. Alliancebernstein L.P. boosted its holdings in shares of Proficient Auto Logistics by 15.0% in the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after purchasing an additional 1,800 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Proficient Auto Logistics by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock valued at $105,000 after purchasing an additional 3,866 shares during the last quarter. Finally, PharVision Advisers LLC purchased a new stake in shares of Proficient Auto Logistics during the 2nd quarter valued at $162,000.

Proficient Auto Logistics Trading Up 1.0%

Shares of PAL stock opened at $6.11 on Friday. The stock has a market cap of $170.04 million, a price-to-earnings ratio of -5.01, a price-to-earnings-growth ratio of 2.33 and a beta of 2.44. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17. Proficient Auto Logistics, Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $10.97. The firm’s 50 day moving average price is $8.67 and its two-hundred day moving average price is $8.09.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday, March 3rd. Stifel Nicolaus lowered their price target on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.00.

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.