Bastion Asset Management Inc. Acquires New Position in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Key Points

• Bastion Asset Management Inc. acquired a new stake in Proficient Auto Logistics, purchasing 412,767 shares valued at approximately $3,455,000, making it the firm's 26th largest investment.
• Proficient Auto Logistics reported a loss of ($0.03) earnings per share, which was below analysts' expectations, despite achieving quarterly revenues of $95.21 million.
• Stifel Nicolaus has lowered their price target for Proficient Auto Logistics from $17.00 to $14.00, while maintaining a "buy" rating on the stock.

Bastion Asset Management Inc. acquired a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 412,767 shares of the company's stock, valued at approximately $3,455,000. Proficient Auto Logistics makes up about 1.9% of Bastion Asset Management Inc.'s portfolio, making the stock its 26th largest position. Bastion Asset Management Inc. owned approximately 1.52% of Proficient Auto Logistics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in Proficient Auto Logistics during the fourth quarter worth $49,000. Wells Fargo & Company MN boosted its stake in shares of Proficient Auto Logistics by 37.9% during the 4th quarter. Wells Fargo & Company MN now owns 8,640 shares of the company's stock worth $70,000 after purchasing an additional 2,373 shares during the period. Squarepoint Ops LLC bought a new position in Proficient Auto Logistics during the 4th quarter valued at about $96,000. Deutsche Bank AG bought a new position in Proficient Auto Logistics during the 4th quarter valued at about $120,000. Finally, Victory Capital Management Inc. lifted its stake in Proficient Auto Logistics by 29.0% in the first quarter. Victory Capital Management Inc. now owns 14,345 shares of the company's stock worth $120,000 after purchasing an additional 3,225 shares during the last quarter.

Insider Transactions at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 49,300 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.24, for a total transaction of $406,232.00. Following the transaction, the chief executive officer owned 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 available at this hyperlink. 13.90% of the stock is currently owned by insiders.

Proficient Auto Logistics Trading Up 0.9%

Shares of Proficient Auto Logistics stock traded up $0.07 on Monday, hitting $8.19. 125,508 shares of the company traded hands, compared to its average volume of 156,888. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.25 and a current ratio of 1.25. The stock's 50 day moving average price is $7.45 and its 200-day moving average price is $8.62. Proficient Auto Logistics, Inc. has a 52 week low of $6.55 and a 52 week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last issued its earnings results 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). Proficient Auto Logistics had a negative net margin of 3.49% and a negative return on equity of 2.05%. The firm had revenue of $95.21 million for the quarter, compared to the consensus estimate of $94.65 million. As a group, analysts expect that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their target price on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.

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.