Diamond Hill Capital Management Inc. Has $5.81 Million Stake in Proficient Auto Logistics, Inc. $PAL

Diamond Hill Capital Management Inc. raised its stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 26.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 843,499 shares of the company’s stock after purchasing an additional 176,880 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Proficient Auto Logistics were worth $5,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Boston Partners grew its stake in Proficient Auto Logistics by 47.9% in the 2nd quarter. Boston Partners now owns 2,141,012 shares of the company’s stock valued at $15,540,000 after buying an additional 693,225 shares during the last quarter. American Century Companies Inc. lifted its position in Proficient Auto Logistics by 18.2% during the 2nd quarter. American Century Companies Inc. now owns 1,795,883 shares of the company’s stock worth $13,038,000 after acquiring an additional 276,269 shares during the last quarter. Millennium Management LLC boosted its holdings in Proficient Auto Logistics by 5.9% during the first quarter. Millennium Management LLC now owns 634,277 shares of the company’s stock valued at $5,309,000 after acquiring an additional 35,335 shares during the period. AYAL Capital Advisors Ltd grew its position in shares of Proficient Auto Logistics by 30.3% in the second quarter. AYAL Capital Advisors Ltd now owns 590,700 shares of the company’s stock valued at $4,288,000 after purchasing an additional 137,241 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Proficient Auto Logistics by 25.7% in the second quarter. First Eagle Investment Management LLC now owns 516,473 shares of the company’s stock worth $3,750,000 after purchasing an additional 105,725 shares during the period.

Insider Activity

In other news, Director John Skiadas sold 41,100 shares of Proficient Auto Logistics stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $7.34, for a total transaction of $301,674.00. Following the sale, the director directly owned 1,870,867 shares in the company, valued at approximately $13,732,163.78. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 75,000 shares of company stock valued at $548,429. Corporate insiders own 13.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Proficient Auto Logistics from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Barrington Research reissued an “outperform” rating and issued a $12.00 price objective on shares of Proficient Auto Logistics in a research report on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.00.

Proficient Auto Logistics Stock Performance

PAL opened at $10.48 on Monday. The stock’s 50 day simple moving average is $9.89 and its 200-day simple moving average is $8.11. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17. The stock has a market cap of $291.66 million, a PE ratio of -524.00, a P/E/G ratio of 2.10 and a beta of 2.17. Proficient Auto Logistics, Inc. has a 1 year low of $5.76 and a 1 year high of $11.37.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.