BlackRock Inc. Invests $6.22 Million in PAMT Corp. $PAMT

Key Points

• BlackRock initiated a $6.22 million stake in PAMT Corp., purchasing 443,996 shares and becoming the owner of approximately 2.12% of the company. Institutional investors collectively hold 22.06% of PAMT.
• PAMT reported a quarterly loss of $0.36 per share on $164.65 million in revenue, alongside a negative net margin of 7.07% and negative return on equity of 13.82%.
• Shares opened at $13.15, within a 52-week range of $7.15 to $17.75. Despite one analyst upgrade to “hold,” PAMT has a consensus “Sell” rating.

BlackRock Inc. bought a new stake in PAMT Corp. (NASDAQ:PAMT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 443,996 shares of the company's stock, valued at approximately $6,220,000. BlackRock Inc. owned approximately 2.12% of PAMT as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PAMT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of PAMT in the 2nd quarter worth $44,000. Russell Investments Group Ltd. raised its holdings in shares of PAMT by 841.7% in the fourth quarter. Russell Investments Group Ltd. now owns 4,699 shares of the company's stock valued at $57,000 after purchasing an additional 4,200 shares during the last quarter. Deutsche Bank AG bought a new position in shares of PAMT during the second quarter valued at about $67,000. JPMorgan Chase & Co. bought a new position in shares of PAMT during the second quarter valued at about $88,000. Finally, Strs Ohio purchased a new position in PAMT during the first quarter worth about $100,000. Hedge funds and other institutional investors own 22.06% of the company's stock.

PAMT Stock Performance

NASDAQ PAMT opened at $13.15 on Friday. The company has a market capitalization of $275.36 million, a PE ratio of -6.48 and a beta of 0.98. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.29 and a current ratio of 1.32. PAMT Corp. has a 52-week low of $7.15 and a 52-week high of $17.75. The company has a 50-day simple moving average of $13.92 and a 200 day simple moving average of $11.97.

PAMT (NASDAQ:PAMT - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.36) earnings per share for the quarter. PAMT had a negative net margin of 7.07% and a negative return on equity of 13.82%. The company had revenue of $164.65 million during the quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PAMT shares. Weiss Ratings raised shares of PAMT from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded PAMT to a "hold" rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

PAMT Company Profile

PAM Transportation Services, Inc NASDAQ: PAMT is a specialized truckload carrier and logistics provider headquartered in Tontitown, Arkansas. Established in 1980, the company offers full truckload and dedicated transportation services across North America. PAMT's freight network is configured to handle both temperature-controlled and dry goods, catering to clients in the food and beverage, retail, consumer packaged goods and industrial sectors.

The company operates a fleet of company-owned tractors and trailers, supported by a network of terminal locations and drop-yard facilities.

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