BlackRock Inc. bought a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,617,165 shares of the company's stock, valued at approximately $11,013,000. BlackRock Inc. owned about 5.82% of Proficient Auto Logistics at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new position in Proficient Auto Logistics in the 2nd quarter worth approximately $144,000. Persistent Asset Partners Ltd acquired a new position in shares of Proficient Auto Logistics during the second quarter valued at approximately $49,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Proficient Auto Logistics in the second quarter valued at about $7,322,000. Bank of New York Mellon Corp purchased a new stake in shares of Proficient Auto Logistics in the second quarter valued at approximately $494,000. Finally, Bank of America Corp DE lifted its position in Proficient Auto Logistics by 2.9% during the first quarter. Bank of America Corp DE now owns 324,242 shares of the company's stock worth $2,198,000 after buying an additional 9,106 shares in the last quarter.
Insider Activity at Proficient Auto Logistics
In related news, Director Rohit Lal acquired 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, for a total transaction of $217,200.00. Following the purchase, the director directly owned 61,903 shares in the company, valued at $336,133.29. This represents a 182.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased 54,995 shares of company stock worth $300,222 over the last three months. 14.20% of the stock is currently owned by corporate insiders.
Proficient Auto Logistics Trading Up 2.4%
Shares of NASDAQ PAL opened at $5.12 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.17. Proficient Auto Logistics, Inc. has a 52-week low of $4.85 and a 52-week high of $10.97. The stock's 50 day moving average price is $6.31 and its two-hundred day moving average price is $6.57. The stock has a market capitalization of $143.62 million, a P/E ratio of -3.63 and a beta of 1.15.
Analyst Ratings Changes
PAL has been the subject of several analyst reports. Weiss Ratings raised shares of Proficient Auto Logistics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 25th. Barrington Research set a $12.00 target price on shares of Proficient Auto Logistics in a research note on Tuesday, August 11th. Wall Street Zen raised shares of Proficient Auto Logistics from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Zacks Research cut shares of Proficient Auto Logistics from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Finally, Stifel Nicolaus raised their target price on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.00.
Read Our Latest Report on Proficient Auto Logistics
Proficient Auto Logistics Profile
(
Free Report)
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.
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