Diamond Hill Capital Management Inc. Buys 136,723 Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Diamond Hill Capital Management Inc. grew its position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 54.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,753 shares of the company's stock after buying an additional 136,723 shares during the period. Diamond Hill Capital Management Inc. owned approximately 1.44% of Proficient Auto Logistics worth $3,262,000 at the end of the most recent quarter.

Other large investors have also recently 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 fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company's stock valued at $70,000 after buying an additional 2,373 shares in the last quarter. Victory Capital Management Inc. boosted 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 valued at $120,000 after buying an additional 3,225 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Proficient Auto Logistics by 10.8% in the fourth quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company's stock valued at $272,000 after buying an additional 3,287 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Proficient Auto Logistics by 2.8% in the first quarter. Wedge Capital Management L L P NC now owns 121,687 shares of the company's stock valued at $1,019,000 after buying an additional 3,342 shares in the last quarter. Finally, Barclays PLC boosted its stake in Proficient Auto Logistics by 15.3% in the fourth quarter. Barclays PLC now owns 25,324 shares of the company's stock valued at $204,000 after buying an additional 3,365 shares in the last quarter.

Insider Transactions at Proficient Auto Logistics

In related news, CEO Richard D. Odell sold 49,300 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $8.24, for a total transaction of $406,232.00. Following the completion of the sale, the chief executive officer owned 836,172 shares in the company, valued at approximately $6,890,057.28. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 13.90% of the company's stock.

Proficient Auto Logistics Trading Up 0.2%

Shares of NASDAQ PAL traded up $0.02 during midday trading on Friday, hitting $8.12. 124,714 shares of the stock traded hands, compared to its average volume of 179,387. Proficient Auto Logistics, Inc. has a one year low of $6.55 and a one year high of $21.01. The business has a 50 day moving average price of $7.46 and a two-hundred day moving average price of $8.64. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.18.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The firm had revenue of $95.21 million for the quarter, compared to the consensus estimate of $94.65 million. Proficient Auto Logistics had a negative net margin of 3.49% and a negative return on equity of 2.05%. On average, equities analysts forecast that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Proficient Auto Logistics

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.