Mutual of America Capital Management LLC Acquires New Holdings in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Mutual of America Capital Management LLC bought a new position in Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 97,542 shares of the company's stock, valued at approximately $1,383,000. Mutual of America Capital Management LLC owned approximately 0.38% of Proficient Auto Logistics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PAL. Diamond Hill Capital Management Inc. bought a new position in shares of Proficient Auto Logistics in the 3rd quarter valued at about $1,362,000. Nicholas Hoffman & Company LLC. purchased a new stake in Proficient Auto Logistics during the third quarter valued at approximately $177,000. Wedge Capital Management L L P NC bought a new stake in shares of Proficient Auto Logistics in the 3rd quarter valued at approximately $1,691,000. SG Americas Securities LLC purchased a new position in shares of Proficient Auto Logistics in the 3rd quarter worth approximately $104,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Proficient Auto Logistics during the 2nd quarter valued at approximately $3,212,000.

Analysts Set New Price Targets

PAL has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price target on 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 dropped 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 note on Monday, October 14th. Finally, Barrington Research reduced their price objective on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 12th.

Insider Activity at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell purchased 54,000 shares of Proficient Auto Logistics stock in a transaction dated Thursday, November 14th. The stock was acquired at an average price of $9.20 per share, for a total transaction of $496,800.00. Following the acquisition, the chief executive officer now owns 753,802 shares in the company, valued at $6,934,978.40. This trade represents a 7.72 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Proficient Auto Logistics Stock Performance

PAL stock traded down $0.16 during midday trading on Tuesday, reaching $10.07. The company's stock had a trading volume of 87,559 shares, compared to its average volume of 265,808. Proficient Auto Logistics, Inc. has a 1 year low of $8.06 and a 1 year high of $21.01. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. The company's fifty day moving average price is $11.62.

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 for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $91.50 million for the quarter, compared to the consensus estimate of $89.54 million. The company's revenue for the quarter was down 12.5% on a year-over-year basis. Analysts predict that Proficient Auto Logistics, Inc. will post 0.4 earnings per share for the current year.

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.