Balyasny Asset Management L.P. Raises Position in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Balyasny Asset Management L.P. increased its stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 215.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,013 shares of the company's stock after purchasing an additional 57,355 shares during the period. Balyasny Asset Management L.P. owned 0.31% of Proficient Auto Logistics worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in Proficient Auto Logistics by 159,197.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 55,754 shares of the company's stock valued at $791,000 after acquiring an additional 55,719 shares during the last quarter. Barclays PLC acquired a new stake in Proficient Auto Logistics in the 3rd quarter valued at about $311,000. Franklin Resources Inc. raised its holdings in Proficient Auto Logistics by 258.1% in the 4th quarter. Franklin Resources Inc. now owns 363,670 shares of the company's stock valued at $2,935,000 after acquiring an additional 262,123 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Proficient Auto Logistics by 7.9% in the 4th quarter. Rhumbline Advisers now owns 16,971 shares of the company's stock valued at $137,000 after buying an additional 1,238 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Proficient Auto Logistics by 10.8% during the 4th quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company's stock worth $272,000 after buying an additional 3,287 shares during the last quarter.

Proficient Auto Logistics Stock Down 4.0%

PAL traded down $0.35 during trading hours on Wednesday, reaching $8.40. The company's stock had a trading volume of 7,170 shares, compared to its average volume of 272,906. Proficient Auto Logistics, Inc. has a fifty-two week low of $6.81 and a fifty-two week high of $21.01. The business's 50-day moving average is $8.47 and its 200-day moving average is $9.20. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.16.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). The company had revenue of $95.21 million for the quarter, compared to analysts' expectations of $94.65 million. On average, research analysts anticipate that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Richard D. Odell sold 49,300 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.24, for a total transaction of $406,232.00. Following the completion of the transaction, the chief executive officer now owns 836,172 shares of the company's stock, valued at approximately $6,890,057.28. This trade represents a 5.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PAL has been the topic of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and issued a $15.00 price objective on shares of Proficient Auto Logistics in a report on Wednesday, February 12th. Stifel Nicolaus decreased their price objective on Proficient Auto Logistics from $17.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

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.