Diamond Hill Capital Management Inc. Makes New Investment in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Diamond Hill Capital Management Inc. acquired a new stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 96,063 shares of the company's stock, valued at approximately $1,362,000. Diamond Hill Capital Management Inc. owned approximately 0.37% of Proficient Auto Logistics at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PAL. SG Americas Securities LLC acquired a new stake in Proficient Auto Logistics in the third quarter valued at about $104,000. XTX Topco Ltd acquired a new stake in Proficient Auto Logistics in the second quarter valued at about $176,000. Nicholas Hoffman & Company LLC. acquired a new stake in Proficient Auto Logistics in the third quarter valued at about $177,000. Federated Hermes Inc. acquired a new stake in Proficient Auto Logistics in the second quarter valued at about $257,000. Finally, Blair William & Co. IL acquired a new stake in Proficient Auto Logistics in the second quarter valued at about $660,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PAL. Stifel Nicolaus reduced their price target on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. Raymond James reduced their price target on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an "outperform" rating for the company in a research report on Monday, October 14th. Finally, Barrington Research dropped 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 note on Tuesday.

Proficient Auto Logistics Stock Down 3.7 %

PAL stock traded down $0.36 during midday trading on Tuesday, hitting $9.25. The stock had a trading volume of 252,046 shares, compared to its average volume of 269,093. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 1.36. Proficient Auto Logistics, Inc. has a 12-month low of $8.06 and a 12-month high of $21.01. The business has a 50-day moving average price of $13.25.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $91.50 million for the quarter, compared to analysts' expectations of $89.54 million. Proficient Auto Logistics's revenue was down 12.5% on a year-over-year basis. As a group, sell-side analysts expect that Proficient Auto Logistics, Inc. will post 0.51 EPS for the current year.

Insider Activity at Proficient Auto Logistics

In other news, Director James B. Gattoni acquired 20,000 shares of the business's stock in a transaction on Tuesday, August 20th. The shares were purchased at an average price of $18.98 per share, for a total transaction of $379,600.00. Following the acquisition, the director now directly owns 20,000 shares of the company's stock, valued at $379,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

Proficient Auto Logistics 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.