VELA Investment Management LLC Buys Shares of 201,058 Proficient Auto Logistics, Inc. $PAL

VELA Investment Management LLC bought a new position in Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the third quarter, Holdings Channel.com reports. The firm bought 201,058 shares of the company’s stock, valued at approximately $1,385,000.

Other hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Proficient Auto Logistics during the 2nd quarter worth approximately $29,000. Jones Financial Companies Lllp acquired a new position in shares of Proficient Auto Logistics during the first quarter worth $73,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Proficient Auto Logistics by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock valued at $105,000 after acquiring an additional 3,866 shares during the last quarter. PharVision Advisers LLC acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter valued at $162,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Proficient Auto Logistics during the 1st quarter valued at $215,000.

Analyst Ratings Changes

PAL has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Proficient Auto Logistics in a report on Wednesday, October 8th. Barrington Research restated an “outperform” rating and set a $12.00 price target on shares of Proficient Auto Logistics in a report on Wednesday, November 12th. Finally, Stifel Nicolaus raised their price objective on shares of Proficient Auto Logistics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. 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 Up 7.3%

Shares of PAL opened at $10.17 on Thursday. The stock’s 50-day moving average price is $9.26 and its two-hundred day moving average price is $7.88. Proficient Auto Logistics, Inc. has a 12 month low of $5.76 and a 12 month high of $11.37. The company has a market capitalization of $283.03 million, a PE ratio of -508.50, a PEG ratio of 1.90 and a beta of 2.18. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17.

Insider Activity at Proficient Auto Logistics

In related news, Director John Skiadas sold 41,100 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $7.34, for a total value of $301,674.00. Following the sale, the director directly owned 1,870,867 shares in the company, valued at $13,732,163.78. This represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 75,000 shares of company stock valued at $548,429 over the last quarter. 13.90% of the stock is owned by insiders.

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.