VELA Investment Management LLC Grows Stake in Proficient Auto Logistics, Inc. $PAL

VELA Investment Management LLC increased its stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 23.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 510,840 shares of the company’s stock after purchasing an additional 98,235 shares during the period. VELA Investment Management LLC owned 1.82% of Proficient Auto Logistics worth $3,479,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. boosted its position in Proficient Auto Logistics by 15.0% during the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company’s stock worth $95,000 after acquiring an additional 1,800 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Proficient Auto Logistics by 77.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company’s stock valued at $31,000 after acquiring an additional 1,975 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Proficient Auto Logistics by 32.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,636 shares of the company’s stock valued at $151,000 after acquiring an additional 3,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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. Finally, Persistent Asset Partners Ltd purchased a new position in Proficient Auto Logistics in the 2nd quarter worth approximately $49,000.

Insider Buying and Selling at Proficient Auto Logistics

In related news, Director Rohit Lal purchased 10,000 shares of Proficient Auto Logistics stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $5.53 per share, with a total value of $55,300.00. Following the purchase, the director owned 71,903 shares of the company’s stock, valued at approximately $397,623.59. The trade was a 16.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 54,995 shares of company stock worth $300,222 in the last ninety days. 14.20% of the stock is owned by company insiders.

Proficient Auto Logistics Price Performance

Shares of PAL opened at $5.12 on Tuesday. The firm has a market cap of $143.62 million, a P/E ratio of -3.63 and a beta of 1.15. Proficient Auto Logistics, Inc. has a 12-month low of $4.85 and a 12-month high of $10.97. The company’s 50-day moving average price is $6.27 and its 200 day moving average price is $6.55. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

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

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.