Proficient Auto Logistics (NASDAQ:PAL) CEO Sells $171,414.44 in Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard Odell sold 33,743 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $5.08, for a total transaction of $171,414.44. Following the sale, the chief executive officer owned 964,099 shares in the company, valued at $4,897,622.92. This represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Proficient Auto Logistics Stock Performance

NASDAQ PAL opened at $5.10 on Thursday. 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 firm has a market capitalization of $141.63 million, a price-to-earnings ratio of -3.83, a P/E/G ratio of 2.26 and a beta of 1.90. The firm’s 50 day simple moving average is $6.51 and its 200 day simple moving average is $7.97. Proficient Auto Logistics, Inc. has a 1 year low of $4.85 and a 1 year high of $10.97.

Institutional Investors Weigh In On Proficient Auto Logistics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Proficient Auto Logistics by 2.9% during the 1st quarter. Bank of America Corp DE now owns 324,242 shares of the company’s stock valued at $2,198,000 after purchasing an additional 9,106 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Proficient Auto Logistics by 1,237.9% during the 1st quarter. Empowered Funds LLC now owns 219,169 shares of the company’s stock valued at $1,486,000 after purchasing an additional 202,788 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Proficient Auto Logistics during the 1st quarter valued at approximately $212,000. Liberty Square Wealth Partners LLC bought a new stake in Proficient Auto Logistics during the 1st quarter worth approximately $422,000. Finally, Fifth Third Bancorp bought a new stake in Proficient Auto Logistics during the 1st quarter worth approximately $167,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Barrington Research set a $10.00 price target on shares of Proficient Auto Logistics in a research report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research report on Wednesday, May 13th. Stifel Nicolaus reduced their price target on shares of 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. Finally, Zacks Research lowered shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently 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.