Boston Partners Acquires 1,362,751 Shares of Proficient Auto Logistics, Inc. $PAL

Key Points

• Boston Partners significantly increased its stake in Proficient Auto Logistics by 1,602.6%, acquiring an additional 1,362,751 shares, bringing its total to 1,447,787 shares valued at approximately $12.1 million.
• Several institutional investors, including Bastion Asset Management and Russell Investments Group, also increased their holdings in Proficient Auto Logistics during the first quarter.
• Wall Street analysts have set price targets for the company's stock, with Stifel Nicolaus at $13 and Barrington Research at $12, indicating a positive outlook for Proficient Auto Logistics.

Boston Partners increased its position in Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 1,602.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,447,787 shares of the company's stock after acquiring an additional 1,362,751 shares during the quarter. Boston Partners owned about 5.35% of Proficient Auto Logistics worth $12,116,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Proficient Auto Logistics by 37.9% in 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 in the 4th quarter worth about $96,000. Deutsche Bank AG bought a new position in Proficient Auto Logistics in the 4th quarter worth about $120,000. Victory Capital Management Inc. boosted its stake in Proficient Auto Logistics by 29.0% in the 1st 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 period. Finally, Barclays PLC boosted its stake in Proficient Auto Logistics by 15.3% in the 4th quarter. Barclays PLC now owns 25,324 shares of the company's stock worth $204,000 after purchasing an additional 3,365 shares during the period.

Proficient Auto Logistics Price Performance

Shares of NASDAQ PAL traded down $0.3950 during trading hours on Wednesday, reaching $7.7650. 46,472 shares of the stock traded hands, compared to its average volume of 255,195. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.16. Proficient Auto Logistics, Inc. has a 52-week low of $5.88 and a 52-week high of $20.58. The company's 50-day simple moving average is $7.23 and its two-hundred day simple moving average is $8.28.

Wall Street Analyst Weigh In

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

Proficient Auto Logistics 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.