Russell Investments Group Ltd. grew its stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 224.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,899 shares of the company's stock after acquiring an additional 204,037 shares during the period. Russell Investments Group Ltd. owned about 1.09% of Proficient Auto Logistics worth $2,380,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Proficient Auto Logistics in the fourth quarter worth $49,000. Wells Fargo & Company MN lifted its position in shares of Proficient Auto Logistics by 37.9% in the 4th quarter. Wells Fargo & Company MN now owns 8,640 shares of the company's stock worth $70,000 after buying an additional 2,373 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Proficient Auto Logistics during the 4th quarter valued at about $90,000. Nicholas Hoffman & Company LLC. raised its stake in Proficient Auto Logistics by 20.0% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company's stock worth $121,000 after acquiring an additional 2,500 shares during the period. Finally, Rhumbline Advisers raised its stake in Proficient Auto Logistics by 7.9% during the fourth quarter. Rhumbline Advisers now owns 16,971 shares of the company's stock worth $137,000 after acquiring an additional 1,238 shares during the period.
Wall Street Analysts Forecast Growth
PAL has been the subject of several recent research reports. Barrington Research reaffirmed an "outperform" rating and set a $15.00 target price on shares of Proficient Auto Logistics in a report on Wednesday, February 12th. Stifel Nicolaus cut their target price on Proficient Auto Logistics from $18.00 to $17.00 and set a "buy" rating on the stock in a research note on Monday, April 14th.
View Our Latest Research Report on PAL
Proficient Auto Logistics Trading Up 6.3 %
Shares of NASDAQ PAL traded up $0.52 during midday trading on Thursday, reaching $8.79. 42,875 shares of the company traded hands, compared to its average volume of 286,547. The stock has a 50-day moving average price of $9.20 and a 200 day moving average price of $9.52. Proficient Auto Logistics, Inc. has a 52 week low of $6.81 and a 52 week high of $21.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25.
Proficient Auto Logistics Company Profile
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Free Report)
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.
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