Insider Buying: Proficient Auto Logistics, Inc. (NASDAQ:PAL) CEO Purchases $496,800.00 in Stock

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) CEO Richard D. Odell purchased 54,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were acquired at an average cost of $9.20 per share, with a total value of $496,800.00. Following the acquisition, the chief executive officer now directly owns 753,802 shares in the company, valued at $6,934,978.40. This represents a 7.72 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Proficient Auto Logistics Trading Up 4.3 %

Shares of PAL traded up $0.39 during trading hours on Friday, hitting $9.54. 506,987 shares of the stock were exchanged, compared to its average volume of 270,861. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.10. The business's 50-day simple moving average is $12.53. Proficient Auto Logistics, Inc. has a fifty-two week low of $8.06 and a fifty-two week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was down 12.5% compared to the same quarter last year. On average, sell-side analysts predict that Proficient Auto Logistics, Inc. will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in Proficient Auto Logistics during the 3rd quarter worth $104,000. MetLife Investment Management LLC purchased a new position in Proficient Auto Logistics during the third quarter worth about $129,000. Verition Fund Management LLC bought a new stake in Proficient Auto Logistics in the 3rd quarter worth about $152,000. XTX Topco Ltd bought a new stake in Proficient Auto Logistics in the 2nd quarter worth about $176,000. Finally, Nicholas Hoffman & Company LLC. purchased a new stake in Proficient Auto Logistics in the 3rd quarter valued at about $177,000.

Analysts Set New Price Targets

Several research firms recently weighed in on PAL. Barrington Research cut their price objective on Proficient Auto Logistics from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday. Raymond James cut their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an "outperform" rating on the stock in a research note on Monday, October 14th. Finally, Stifel Nicolaus lowered their price objective on Proficient Auto Logistics from $21.00 to $18.00 and set a "buy" rating for the company in a research note 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.