Insider Selling: Proficient Auto Logistics (NASDAQ:PAL) Director Sells 41,100 Shares of Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) Director John Skiadas sold 41,100 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $7.34, for a total value of $301,674.00. Following the completion of the transaction, the director directly owned 1,870,867 shares of the company’s stock, valued at $13,732,163.78. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

John Skiadas also recently made the following trade(s):

• On Thursday, November 20th, John Skiadas sold 6,620 shares of Proficient Auto Logistics stock. The shares were sold at an average price of $7.37, for a total value of $48,789.40.
• On Wednesday, November 19th, John Skiadas sold 9,010 shares of Proficient Auto Logistics stock. The stock was sold at an average price of $7.23, for a total value of $65,142.30.

Proficient Auto Logistics Price Performance

PAL stock traded up $0.20 during mid-day trading on Friday, reaching $7.30. 264,505 shares of the company traded hands, compared to its average volume of 267,848. The company has a fifty day moving average price of $6.83 and a 200-day moving average price of $7.26. Proficient Auto Logistics, Inc. has a 52-week low of $5.76 and a 52-week high of $11.37. The company has a market capitalization of $203.16 million, a P/E ratio of -365.00, a P/E/G ratio of 21.04 and a beta of 2.53. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.14 and a quick ratio of 1.16.

Hedge Funds Weigh In On Proficient Auto Logistics

A number of institutional investors have recently made changes to their positions in PAL. Boston Partners raised its position in shares of Proficient Auto Logistics by 1,602.6% during 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 in the last quarter. Bastion Asset Management Inc. purchased a new position in Proficient Auto Logistics in the first quarter worth $3,455,000. Russell Investments Group Ltd. increased its stake in Proficient Auto Logistics by 137.9% in the first quarter. Russell Investments Group Ltd. now owns 701,513 shares of the company’s stock valued at $5,872,000 after acquiring an additional 406,614 shares during the last quarter. Optimize Financial Inc bought a new position in Proficient Auto Logistics in the second quarter valued at $2,225,000. Finally, Brightlight Capital Management LP purchased a new stake in Proficient Auto Logistics during the third quarter valued at about $1,999,000.

Analyst Ratings Changes

Several brokerages recently commented on PAL. Barrington Research reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Proficient Auto Logistics in a research note on Wednesday, November 12th. Stifel Nicolaus set a $13.00 price target on shares of Proficient Auto Logistics in a report on Tuesday, August 12th. William Blair cut shares of Proficient Auto Logistics from an “outperform” rating to a “market perform” rating in a report on Friday, September 12th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Proficient Auto Logistics in a research report on Wednesday, October 8th. Two equities 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.