Brightlight Capital Management LP Acquires Shares of 290,077 Proficient Auto Logistics, Inc. $PAL

Brightlight Capital Management LP acquired a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 290,077 shares of the company’s stock, valued at approximately $1,999,000. Proficient Auto Logistics accounts for about 1.2% of Brightlight Capital Management LP’s portfolio, making the stock its 10th biggest position. Brightlight Capital Management LP owned about 1.04% of Proficient Auto Logistics as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PAL. Boston Partners raised its stake in shares of Proficient Auto Logistics by 6.9% during the third quarter. Boston Partners now owns 2,288,113 shares of the company’s stock worth $15,763,000 after purchasing an additional 147,101 shares during the last quarter. American Century Companies Inc. grew its position in Proficient Auto Logistics by 18.2% in the 2nd quarter. American Century Companies Inc. now owns 1,795,883 shares of the company’s stock valued at $13,038,000 after buying an additional 276,269 shares during the last quarter. Vanguard Group Inc. grew its position in Proficient Auto Logistics by 7.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,135,623 shares of the company’s stock valued at $7,824,000 after buying an additional 83,148 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Proficient Auto Logistics by 26.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 843,499 shares of the company’s stock valued at $5,812,000 after buying an additional 176,880 shares during the period. Finally, Millennium Management LLC raised its position in Proficient Auto Logistics by 5.9% during the 1st quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock worth $5,309,000 after buying an additional 35,335 shares during the last quarter.

Proficient Auto Logistics Stock Performance

NASDAQ:PAL opened at $6.11 on Friday. The firm has a 50 day simple moving average of $8.67 and a 200-day simple moving average of $8.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market cap of $170.04 million, a PE ratio of -5.01, a P/E/G ratio of 2.33 and a beta of 2.44. Proficient Auto Logistics, Inc. has a 1-year low of $5.76 and a 1-year high of $10.97.

Analysts Set New Price Targets

Several analysts have recently commented on PAL shares. Stifel Nicolaus reduced their target price on shares of 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 reiterated an “outperform” rating and set a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.00.

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.