Insider Buying: Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Acquires 54,000 Shares of Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Richard D. Odell purchased 54,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was bought at an average price of $9.20 per share, with a total value of $496,800.00. Following the completion of the purchase, the chief executive officer now owns 753,802 shares of the company’s stock, valued at approximately $6,934,978.40. This represents a 7.72 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Proficient Auto Logistics Stock Performance

PAL opened at $9.54 on Friday. The firm has a fifty day simple moving average of $12.53. Proficient Auto Logistics, Inc. has a 1-year low of $8.06 and a 1-year high of $21.01. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

Proficient Auto Logistics (NASDAQ:PAL) last released its quarterly earnings data on Friday, November 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. As a group, research analysts expect that Proficient Auto Logistics, Inc. will post 0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PAL. First Eagle Investment Management LLC acquired a new stake in shares of Proficient Auto Logistics during the second quarter worth $1,867,000. AYAL Capital Advisors Ltd bought a new position in shares of Proficient Auto Logistics during the second quarter worth approximately $5,220,000. Wedge Capital Management L L P NC acquired a new stake in shares of Proficient Auto Logistics in the third quarter valued at approximately $1,691,000. Emerald Advisers LLC acquired a new stake in shares of Proficient Auto Logistics in the second quarter valued at approximately $1,172,000. Finally, Millennium Management LLC acquired a new stake in Proficient Auto Logistics during the second quarter worth approximately $14,446,000.

Analysts Set New Price Targets

PAL has been the subject of several recent analyst reports. Raymond James cut their price objective on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, October 14th. Barrington Research decreased their price objective on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus dropped their target price on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, October 17th.

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.