VELA Investment Management LLC Grows Stock Holdings in Proficient Auto Logistics, Inc. $PAL

VELA Investment Management LLC grew its position in Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 23.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 510,840 shares of the company’s stock after buying an additional 98,235 shares during the quarter. VELA Investment Management LLC’s holdings in Proficient Auto Logistics were worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in Proficient Auto Logistics by 77.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock worth $31,000 after acquiring an additional 1,975 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at about $49,000. Jones Financial Companies Lllp acquired a new position in Proficient Auto Logistics in the 1st quarter valued at about $73,000. Odyssean LLC acquired a new position in Proficient Auto Logistics in the 4th quarter valued at about $98,000. Finally, Invesco Ltd. purchased a new stake in Proficient Auto Logistics during the fourth quarter worth about $101,000.

Proficient Auto Logistics Price Performance

Shares of PAL opened at $5.12 on Tuesday. The firm has a market capitalization of $143.62 million, a price-to-earnings ratio of -3.63 and a beta of 1.15. The firm’s fifty day simple moving average is $6.27 and its 200-day simple moving average is $6.55. Proficient Auto Logistics, Inc. has a twelve month low of $4.85 and a twelve month high of $10.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17.

Insider Activity at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director Rohit Lal acquired 40,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $5.43 per share, for a total transaction of $217,200.00. Following the acquisition, the director owned 61,903 shares in the company, valued at $336,133.29. The trade was a 182.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders bought 54,995 shares of company stock valued at $300,222. Corporate insiders own 14.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PAL. Zacks Research cut shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Stifel Nicolaus lifted their price objective on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings raised shares of Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 25th. Wall Street Zen upgraded shares of Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Barrington Research set a $12.00 price target on shares of Proficient Auto Logistics in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.00.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.