Proficient Auto Logistics, Inc. (NASDAQ:PAL) Shares Bought by Balyasny Asset Management L.P.

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

Several other hedge funds also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in shares of Proficient Auto Logistics in the 4th quarter valued at about $49,000. Wells Fargo & Company MN boosted its holdings in shares of Proficient Auto Logistics by 37.9% in the fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company's stock valued at $70,000 after acquiring an additional 2,373 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Proficient Auto Logistics during the fourth quarter worth approximately $90,000. Nicholas Hoffman & Company LLC. increased its holdings in shares of Proficient Auto Logistics by 20.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company's stock valued at $121,000 after acquiring an additional 2,500 shares during the period. Finally, Rhumbline Advisers raised its position in 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 purchasing an additional 1,238 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have commented on PAL. Barrington Research restated an "outperform" rating and issued a $15.00 price objective on shares of Proficient Auto Logistics in a research note on Wednesday, February 12th. Stifel Nicolaus dropped their price target on Proficient Auto Logistics from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th.

Insider Activity at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 15,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $8.15, for a total transaction of $122,250.00. Following the transaction, the chief executive officer now directly owns 885,472 shares in the company, valued at approximately $7,216,596.80. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 13.90% of the company's stock.

Proficient Auto Logistics Price Performance

Proficient Auto Logistics stock traded up $0.14 during trading hours on Monday, reaching $8.77. 131,044 shares of the stock were exchanged, compared to its average volume of 273,813. The firm's 50 day moving average is $8.51 and its 200 day moving average is $9.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics, Inc. has a 52-week low of $6.81 and a 52-week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS 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, equities analysts forecast that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current fiscal year.

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.