Royce & Associates LP Takes Position in Proficient Auto Logistics, Inc. $PAL

Royce & Associates LP acquired a new stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 605,290 shares of the company’s stock, valued at approximately $5,835,000. Royce & Associates LP owned approximately 2.17% of Proficient Auto Logistics as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PAL. Brightlight Capital Management LP purchased a new position in shares of Proficient Auto Logistics during the third quarter valued at about $1,999,000. Diamond Hill Capital Management Inc. grew its position in shares of Proficient Auto Logistics by 26.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 843,499 shares of the company’s stock valued at $5,812,000 after purchasing an additional 176,880 shares in the last quarter. Optimize Financial Inc grew its position in shares of Proficient Auto Logistics by 50.0% during the third quarter. Optimize Financial Inc now owns 459,699 shares of the company’s stock valued at $3,167,000 after purchasing an additional 153,233 shares in the last quarter. Boston Partners grew its position in shares of Proficient Auto Logistics by 6.9% during the third quarter. Boston Partners now owns 2,288,113 shares of the company’s stock valued at $15,763,000 after purchasing an additional 147,101 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Proficient Auto Logistics by 31.2% during the third quarter. Franklin Resources Inc. now owns 525,744 shares of the company’s stock valued at $3,622,000 after purchasing an additional 124,920 shares in the last quarter.

Proficient Auto Logistics Stock Up 0.2%

Shares of NASDAQ PAL opened at $5.47 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $151.90 million, a P/E ratio of -4.11 and a beta of 1.90. Proficient Auto Logistics, Inc. has a 1 year low of $4.85 and a 1 year high of $10.97. The firm has a 50-day simple moving average of $6.37 and a two-hundred day simple moving average of $7.87.

Insider Activity

In other news, Director Rohit Lal acquired 10,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was acquired at an average price of $6.38 per share, with a total value of $63,800.00. Following the completion of the purchase, the director directly owned 20,000 shares in the company, valued at approximately $127,600. This trade represents a 100.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard D. Odell sold 27,191 shares of Proficient Auto Logistics stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.03, for a total transaction of $136,770.73. Following the sale, the chief executive officer directly owned 936,908 shares of the company’s stock, valued at $4,712,647.24. This represents a 2.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders acquired 13,800 shares of company stock valued at $83,370. 14.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Barrington Research set a $10.00 price objective on Proficient Auto Logistics in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Proficient Auto Logistics in a research report on Wednesday, May 13th. Stifel Nicolaus cut their price objective on Proficient Auto Logistics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Zacks Research lowered Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Proficient Auto Logistics has an average rating of “Hold” and an average price target of $10.00.

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.