230,911 Shares in Proficient Auto Logistics, Inc. $PAL Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 230,911 shares of Proficient Auto Logistics in the second quarter, valued at approximately $1.57 million and representing about 0.83% of the company.
• Insider buying provided an additional positive signal: Director Rohit Lal purchased 40,000 shares for $217,200, while insiders bought nearly 55,000 shares during the quarter and collectively own 14.2% of the stock.
• Analyst sentiment remains mixed, with ratings ranging from strong sell to buy; the consensus rating is Hold with a $12.00 price target, compared with PAL’s recent opening price of $5.00.

Empowered Funds LLC acquired a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 230,911 shares of the company's stock, valued at approximately $1,573,000. Empowered Funds LLC owned approximately 0.83% of Proficient Auto Logistics at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. lifted its position in shares of Proficient Auto Logistics by 15.0% in the third quarter. Alliancebernstein L.P. now owns 13,800 shares of the company's stock valued at $95,000 after acquiring an additional 1,800 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Proficient Auto Logistics by 77.7% in the third quarter. BNP Paribas Financial Markets now owns 4,517 shares of the company's stock worth $31,000 after acquiring an additional 1,975 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Proficient Auto Logistics by 32.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,636 shares of the company's stock worth $151,000 after purchasing an additional 3,810 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Proficient Auto Logistics by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company's stock worth $105,000 after purchasing an additional 3,866 shares in the last quarter. Finally, Persistent Asset Partners Ltd acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at $49,000.

Insiders Place Their Bets

In other news, Director Rohit Lal bought 40,000 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $5.43 per share, for a total transaction of $217,200.00. Following the acquisition, 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 acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have bought 54,995 shares of company stock valued at $300,222. Insiders own 14.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Zacks Research lowered Proficient Auto Logistics from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Stifel Nicolaus upped their target price on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Proficient Auto Logistics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 25th. Barrington Research set a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Proficient Auto Logistics from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Two 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 company's stock. According to data from MarketBeat, Proficient Auto Logistics currently has an average rating of "Hold" and a consensus target price of $12.00.

Proficient Auto Logistics Trading Up 1.2%

Shares of PAL opened at $5.00 on Friday. Proficient Auto Logistics, Inc. has a 12-month low of $4.85 and a 12-month high of $10.97. The firm has a market capitalization of $140.25 million, a P/E ratio of -3.55 and a beta of 1.15. The firm has a 50-day moving average price of $6.35 and a 200 day moving average price of $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.

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.

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