Richard Odell Sells 33,743 Shares of Proficient Auto Logistics (NASDAQ:PAL) Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard Odell sold 33,743 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 964,099 shares of the company’s stock, valued at approximately $4,897,622.92. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Proficient Auto Logistics Stock Down 2.0%

Shares of PAL opened at $4.92 on Wednesday. The company has a market cap of $136.63 million, a PE ratio of -3.70, a P/E/G ratio of 2.31 and a beta of 1.90. The business has a fifty day moving average of $6.54 and a 200 day moving average of $7.99. Proficient Auto Logistics, Inc. has a 52-week low of $4.91 and a 52-week high of $10.97. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.16.

Hedge Funds Weigh In On Proficient Auto Logistics

Hedge funds have recently bought and sold shares of the company. Diamond Hill Capital Management Inc. lifted its stake in Proficient Auto Logistics by 26.5% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 843,499 shares of the company’s stock worth $5,812,000 after acquiring an additional 176,880 shares in the last quarter. Optimize Financial Inc lifted its stake in Proficient Auto Logistics by 50.0% during the 3rd quarter. Optimize Financial Inc now owns 459,699 shares of the company’s stock worth $3,167,000 after acquiring an additional 153,233 shares in the last quarter. VELA Investment Management LLC acquired a new position in Proficient Auto Logistics during the 3rd quarter worth about $1,385,000. Brightlight Capital Management LP acquired a new position in Proficient Auto Logistics during the 3rd quarter worth about $1,999,000. Finally, Liberty Square Wealth Partners LLC acquired a new position in Proficient Auto Logistics during the 1st quarter worth about $422,000.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PAL. Stifel Nicolaus reduced their target price on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, May 13th. Barrington Research set a $10.00 target price on Proficient Auto Logistics in a research note on Monday, May 11th. Finally, Zacks Research lowered Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Proficient Auto Logistics presently has an average rating of “Hold” and a consensus target price of $10.00.

About Proficient Auto Logistics

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.