VELA Investment Management LLC Purchases 98,235 Shares of Proficient Auto Logistics, Inc. $PAL

VELA Investment Management LLC lifted its position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 23.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 510,840 shares of the company’s stock after purchasing an additional 98,235 shares during the quarter. VELA Investment Management LLC owned approximately 1.82% of Proficient Auto Logistics worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Proficient Auto Logistics by 77.7% in the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after purchasing an additional 1,975 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Proficient Auto Logistics during the second quarter worth $49,000. Jones Financial Companies Lllp acquired a new stake in Proficient Auto Logistics during the first quarter worth $73,000. Alliancebernstein L.P. increased its holdings in Proficient Auto Logistics by 15.0% in the 3rd quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock valued at $95,000 after buying an additional 1,800 shares during the period. Finally, Odyssean LLC bought a new stake in Proficient Auto Logistics in the 4th quarter valued at $98,000.

Proficient Auto Logistics Stock Performance

Shares of NASDAQ:PAL opened at $5.12 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day moving average price is $6.31 and its two-hundred day moving average price is $6.56. Proficient Auto Logistics, Inc. has a fifty-two week low of $4.85 and a fifty-two week high of $10.97. The stock has a market capitalization of $143.62 million, a price-to-earnings ratio of -3.63 and a beta of 1.15.

Analyst Ratings Changes

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

Insider Activity at Proficient Auto Logistics

In other news, Director Rohit Lal bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $5.53 per share, for a total transaction of $55,300.00. Following the transaction, the director directly owned 71,903 shares of the company’s stock, valued at $397,623.59. This trade represents a 16.15% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have acquired 54,995 shares of company stock valued at $300,222. 14.20% of the stock is currently owned by insiders.

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.