CM Wealth Advisors LLC Invests $729,000 in Proficient Auto Logistics, Inc. $PAL

CM Wealth Advisors LLC purchased a new stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the 2nd quarter, Holdings Channel reports. The fund purchased 107,013 shares of the company’s stock, valued at approximately $729,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Proficient Auto Logistics by 77.7% during the 3rd 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 last quarter. Persistent Asset Partners Ltd purchased a new position in shares of Proficient Auto Logistics in the second quarter worth $49,000. Jones Financial Companies Lllp bought a new position in shares of Proficient Auto Logistics during the first quarter valued at $73,000. Alliancebernstein L.P. boosted its position in shares of Proficient Auto Logistics by 15.0% during the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after buying an additional 1,800 shares during the last quarter. Finally, Odyssean LLC bought a new stake in Proficient Auto Logistics in the 4th quarter worth about $98,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus boosted their target price on Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Proficient Auto Logistics from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research cut shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings downgraded shares of Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Finally, Barrington Research set a $12.00 target price on shares of Proficient Auto Logistics in a report on Tuesday, August 11th. Two equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.00.

Insider Activity

In other Proficient Auto Logistics news, Director Rohit Lal bought 40,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average cost of $5.43 per share, for a total transaction of $217,200.00. Following the completion of the transaction, the director owned 61,903 shares of the company’s stock, valued at $336,133.29. This represents a 182.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 54,995 shares of company stock valued at $300,222 over the last quarter. Company insiders own 14.20% of the company’s stock.

Proficient Auto Logistics Price Performance

NASDAQ PAL opened at $5.41 on Thursday. Proficient Auto Logistics, Inc. has a 52 week low of $4.85 and a 52 week high of $10.97. The firm has a market capitalization of $151.75 million, a P/E ratio of -3.84 and a beta of 1.25. The company has a quick ratio of 1.06, a current ratio of 1.18 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $6.89 and a 200-day moving average price of $6.90.

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.