Insider Selling: Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Sells 49,300 Shares of Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard D. Odell sold 49,300 shares of Proficient Auto Logistics stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.24, for a total transaction of $406,232.00. Following the sale, the chief executive officer now owns 836,172 shares in the company, valued at approximately $6,890,057.28. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Proficient Auto Logistics Price Performance

Shares of NASDAQ PAL traded down $0.02 during mid-day trading on Tuesday, hitting $8.75. 147,182 shares of the company traded hands, compared to its average volume of 273,308. The business has a 50 day moving average of $8.49 and a two-hundred day moving average of $9.21. Proficient Auto Logistics, Inc. has a 1 year low of $6.81 and a 1 year high of $21.01. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.16.

Proficient Auto Logistics (NASDAQ:PAL) last announced its earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $95.21 million for the quarter, compared to the consensus estimate of $94.65 million. As a group, analysts predict that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PAL. Boston Partners grew its stake in Proficient Auto Logistics by 1,602.6% in the 1st quarter. Boston Partners now owns 1,447,787 shares of the company’s stock valued at $12,116,000 after buying an additional 1,362,751 shares during the last quarter. Bastion Asset Management Inc. acquired a new stake in Proficient Auto Logistics during the first quarter valued at approximately $3,455,000. Russell Investments Group Ltd. lifted its position in shares of Proficient Auto Logistics by 137.9% during the 1st quarter. Russell Investments Group Ltd. now owns 701,513 shares of the company’s stock worth $5,872,000 after buying an additional 406,614 shares during the period. Franklin Resources Inc. raised its stake in Proficient Auto Logistics by 258.1% during the fourth quarter. Franklin Resources Inc. now owns 363,670 shares of the company’s stock worth $2,935,000 after acquiring an additional 262,123 shares in the last quarter. Finally, Next Century Growth Investors LLC acquired a new stake in shares of Proficient Auto Logistics during the 1st quarter worth about $1,911,000.

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.