Emerald Mutual Fund Advisers Trust Has $6.51 Million Stock Holdings in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Emerald Mutual Fund Advisers Trust lessened its holdings in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 38.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 459,356 shares of the company's stock after selling 292,660 shares during the period. Emerald Mutual Fund Advisers Trust owned 1.77% of Proficient Auto Logistics worth $6,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. acquired a new stake in Proficient Auto Logistics in the second quarter worth about $20,687,000. Millennium Management LLC bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth about $14,446,000. Hood River Capital Management LLC acquired a new stake in shares of Proficient Auto Logistics in the 2nd quarter worth approximately $5,600,000. AYAL Capital Advisors Ltd bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $5,220,000. Finally, Ghisallo Capital Management LLC acquired a new position in shares of Proficient Auto Logistics during the second quarter valued at approximately $3,212,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PAL. Barrington Research cut their target price on Proficient Auto Logistics from $22.00 to $17.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus dropped their price objective on Proficient Auto Logistics from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Finally, Raymond James decreased their target price on 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.

Insiders Place Their Bets

In other news, Director James B. Gattoni bought 20,000 shares of the firm's stock in a transaction on Tuesday, August 20th. The stock was bought at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at $379,600. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company's stock.

Proficient Auto Logistics Trading Up 1.7 %

NASDAQ:PAL traded up $0.14 during trading hours on Friday, reaching $8.33. 166,908 shares of the company's stock were exchanged, compared to its average volume of 489,506. 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 stock has a 50-day moving average price of $14.42.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last issued its earnings results on Friday, August 9th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.08. The company had revenue of $106.61 million during the quarter, compared to analyst estimates of $101.69 million. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Proficient Auto Logistics, Inc. will post 0.51 EPS for the current fiscal year.

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.