FNY Investment Advisers LLC Makes New Investment in Proficient Auto Logistics, Inc. $PAL

FNY Investment Advisers LLC bought a new position in Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,011 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors have also recently added to or reduced their stakes in PAL. Goldman Sachs Group Inc. increased its holdings in shares of Proficient Auto Logistics by 138.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,585 shares of the company’s stock valued at $884,000 after buying an additional 61,272 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Proficient Auto Logistics by 9.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 146,805 shares of the company’s stock valued at $1,229,000 after buying an additional 12,159 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Proficient Auto Logistics by 27.5% in the first quarter. Bank of New York Mellon Corp now owns 42,945 shares of the company’s stock valued at $359,000 after buying an additional 9,261 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Proficient Auto Logistics by 4.6% in the first quarter. American Century Companies Inc. now owns 1,519,614 shares of the company’s stock valued at $12,719,000 after buying an additional 66,186 shares in the last quarter. Finally, Corebridge Financial Inc. increased its holdings in shares of Proficient Auto Logistics by 33.6% in the first quarter. Corebridge Financial Inc. now owns 10,409 shares of the company’s stock valued at $87,000 after buying an additional 2,619 shares in the last quarter.

Proficient Auto Logistics Stock Down 2.7%

NASDAQ PAL opened at $6.86 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.20. Proficient Auto Logistics, Inc. has a 1-year low of $5.76 and a 1-year high of $11.37. The firm’s fifty day simple moving average is $7.07 and its 200-day simple moving average is $7.40.

Analyst Ratings Changes

Several research analysts have issued reports on PAL shares. Stifel Nicolaus set a $13.00 price target on Proficient Auto Logistics in a report on Tuesday, August 12th. William Blair downgraded shares of Proficient Auto Logistics from an “outperform” rating to a “market perform” rating in a research note on Friday, September 12th. Barrington Research reissued an “outperform” rating and set a $12.00 target price on shares of Proficient Auto Logistics in a research note on Tuesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Proficient Auto Logistics presently has a consensus rating of “Hold” and an average price target of $12.50.

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.