Empowered Funds LLC Buys Shares of 230,911 Proficient Auto Logistics, Inc. $PAL

Empowered Funds LLC purchased a new stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 230,911 shares of the company’s stock, valued at approximately $1,573,000.

A number of other hedge funds have also modified their holdings of PAL. Boston Partners increased its position in shares of Proficient Auto Logistics by 6.9% during the 3rd quarter. Boston Partners now owns 2,288,113 shares of the company’s stock worth $15,763,000 after purchasing an additional 147,101 shares during the last quarter. BlackRock Inc. acquired a new position in Proficient Auto Logistics in the second quarter valued at about $11,013,000. Vanguard Group Inc. boosted its stake in Proficient Auto Logistics by 7.9% during the third quarter. Vanguard Group Inc. now owns 1,135,623 shares of the company’s stock worth $7,824,000 after buying an additional 83,148 shares during the period. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Proficient Auto Logistics during the second quarter worth about $7,322,000. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Proficient Auto Logistics by 7.5% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 906,345 shares of the company’s stock valued at $8,737,000 after acquiring an additional 62,846 shares during the last quarter.

Proficient Auto Logistics Stock Up 1.2%

Proficient Auto Logistics stock opened at $5.00 on Friday. Proficient Auto Logistics, Inc. has a twelve month low of $4.85 and a twelve month high of $10.97. The stock’s fifty day simple moving average is $6.35 and its 200-day simple moving average is $6.58. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $140.25 million, a P/E ratio of -3.55 and a beta of 1.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price target on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Proficient Auto Logistics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 25th. Wall Street Zen upgraded shares of Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research lowered Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Barrington Research set a $12.00 target price on Proficient Auto Logistics in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.00.

Insider Transactions at Proficient Auto Logistics

In related news, Director Rohit Lal bought 40,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $5.43 per share, with a total value of $217,200.00. Following the purchase, the director directly owned 61,903 shares of the company’s stock, valued at $336,133.29. This trade represents a 182.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders acquired 54,995 shares of company stock valued at $300,222 in the last ninety days. Company insiders own 14.20% of the company’s stock.

Proficient Auto Logistics Company 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.