Proficient Auto Logistics, Inc. $PAL Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Proficient Auto Logistics by 4.6%, acquiring an additional 66,186 shares and totaling 1,519,614 shares valued at approximately $12.7 million.
• Multiple hedge funds made significant adjustments to their investments, with Wells Fargo and Victory Capital boosting their stakes by 37.9% and 29.0%, respectively.
• Proficient Auto Logistics currently has an average analyst rating of "Buy" and a consensus target price of $14.67, despite its shares recently trading down by 1.2% to $8.22.

American Century Companies Inc. grew its stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,519,614 shares of the company's stock after acquiring an additional 66,186 shares during the period. American Century Companies Inc. owned about 5.61% of Proficient Auto Logistics worth $12,719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PAL. Boston Partners raised its stake in shares of Proficient Auto Logistics by 1,602.6% during the first quarter. Boston Partners now owns 1,447,787 shares of the company's stock valued at $12,116,000 after acquiring an additional 1,362,751 shares in the last quarter. Bastion Asset Management Inc. bought a new stake in shares of Proficient Auto Logistics during the first quarter valued at approximately $3,455,000. Russell Investments Group Ltd. raised its stake in shares of Proficient Auto Logistics by 137.9% during the first quarter. Russell Investments Group Ltd. now owns 701,513 shares of the company's stock valued at $5,872,000 after acquiring an additional 406,614 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in shares of Proficient Auto Logistics by 128.6% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 323,289 shares of the company's stock valued at $2,706,000 after acquiring an additional 181,838 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Proficient Auto Logistics by 54.0% during the first quarter. Diamond Hill Capital Management Inc. now owns 389,753 shares of the company's stock valued at $3,262,000 after acquiring an additional 136,723 shares in the last quarter.

Proficient Auto Logistics Stock Performance

NASDAQ:PAL remained flat at $7.90 during trading hours on Friday. 175,455 shares of the company's stock were exchanged, compared to its average volume of 184,275. Proficient Auto Logistics, Inc. has a 52 week low of $5.88 and a 52 week high of $19.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a fifty day moving average of $7.37 and a 200-day moving average of $8.18.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and set a $12.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday, August 12th. Stifel Nicolaus set a $13.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $14.67.

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.