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 value of $406,232.00. Following the completion of the sale, the chief executive officer now owns 836,172 shares of the company’s stock, valued at $6,890,057.28. This trade represents a 5.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Proficient Auto Logistics Trading Down 0.2%

Shares of Proficient Auto Logistics stock traded down $0.02 during trading hours on Tuesday, hitting $8.75. 147,182 shares of the company’s stock traded hands, compared to its average volume of 273,308. Proficient Auto Logistics, Inc. has a twelve month low of $6.81 and a twelve month high of $21.01. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $8.49 and a 200-day simple moving average of $9.21.

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 analysts’ consensus estimates of $0.02 by ($0.05). The business had revenue of $95.21 million during the quarter, compared to the consensus estimate of $94.65 million. As a group, research analysts predict that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Proficient Auto Logistics

Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Proficient Auto Logistics during the 4th quarter worth $49,000. Wells Fargo & Company MN increased its holdings in shares of Proficient Auto Logistics by 37.9% in the 4th quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock worth $70,000 after acquiring an additional 2,373 shares during the period. Jones Financial Companies Lllp bought a new stake in Proficient Auto Logistics in the 1st quarter valued at about $73,000. Corebridge Financial Inc. boosted its stake in Proficient Auto Logistics by 33.6% during the 1st quarter. Corebridge Financial Inc. now owns 10,409 shares of the company’s stock valued at $87,000 after purchasing an additional 2,619 shares during the period. Finally, Victory Capital Management Inc. bought a new position in Proficient Auto Logistics in the 4th quarter worth about $90,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAL. Barrington Research reiterated an “outperform” rating and set a $15.00 target price on shares of Proficient Auto Logistics in a report on Wednesday, February 12th. Stifel Nicolaus reduced their target price on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 8th.

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.