Proficient Auto Logistics, Inc. $PAL Stake Lifted by Brightlight Capital Management LP

Brightlight Capital Management LP raised its stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,700 shares of the company’s stock after purchasing an additional 68,623 shares during the quarter. Proficient Auto Logistics comprises about 2.5% of Brightlight Capital Management LP’s investment portfolio, making the stock its 8th biggest position. Brightlight Capital Management LP’s holdings in Proficient Auto Logistics were worth $3,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Proficient Auto Logistics by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock valued at $105,000 after acquiring an additional 3,866 shares in the last quarter. Millennium Management LLC grew its stake in shares of Proficient Auto Logistics by 5.9% during the first quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock valued at $5,309,000 after acquiring an additional 35,335 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Proficient Auto Logistics during the first quarter valued at about $215,000. Jones Financial Companies Lllp acquired a new stake in shares of Proficient Auto Logistics during the first quarter valued at about $73,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of Proficient Auto Logistics by 138.3% during the first quarter. Goldman Sachs Group Inc. now owns 105,585 shares of the company’s stock valued at $884,000 after acquiring an additional 61,272 shares in the last quarter.

Proficient Auto Logistics Stock Down 6.0%

NASDAQ:PAL opened at $7.39 on Thursday. The company has a market capitalization of $205.22 million, a price-to-earnings ratio of -5.56 and a beta of 1.53. Proficient Auto Logistics, Inc. has a one year low of $4.85 and a one year high of $10.97. The stock has a 50-day simple moving average of $6.54 and a 200 day simple moving average of $7.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06.

Insider Buying and Selling

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 33,743 shares of Proficient Auto Logistics stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $5.08, for a total value of $171,414.44. Following the completion of the transaction, the chief executive officer directly owned 964,099 shares in the company, valued at $4,897,622.92. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 14.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PAL has been the subject of several recent analyst reports. Wall Street Zen downgraded Proficient Auto Logistics from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, May 13th. Stifel Nicolaus lowered their target price on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Barrington Research set a $10.00 target price on Proficient Auto Logistics in a research note on Monday, May 11th. Finally, Zacks Research downgraded Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

Proficient Auto Logistics 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.