Proficient Auto Logistics, Inc. (NASDAQ:PAL) Shares Purchased by Diamond Hill Capital Management Inc.

Key Points

• Diamond Hill Capital Management Inc. boosted its stake in Proficient Auto Logistics by 54% this quarter, acquiring an additional 136,723 shares, bringing its total ownership to approximately 1.44% of the company.
• Proficient Auto Logistics reported a quarterly earnings loss of ($0.03) per share, falling short of analysts' estimates, despite achieving revenues of $95.21 million.
• The stock price of Proficient Auto Logistics is currently $8.12, having traded within a 52-week range of $6.55 to $21.01.

Diamond Hill Capital Management Inc. increased its holdings in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 54.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 389,753 shares of the company's stock after acquiring 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 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PAL. American Century Companies Inc. lifted its stake in Proficient Auto Logistics by 12.4% in the 4th quarter. American Century Companies Inc. now owns 1,453,428 shares of the company's stock valued at $11,729,000 after buying an additional 160,032 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in Proficient Auto Logistics by 5.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 458,991 shares of the company's stock valued at $3,704,000 after buying an additional 25,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in Proficient Auto Logistics by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 367,933 shares of the company's stock valued at $2,970,000 after buying an additional 20,181 shares in the last quarter. Franklin Resources Inc. lifted its stake in Proficient Auto Logistics by 258.1% in the 4th quarter. Franklin Resources Inc. now owns 363,670 shares of the company's stock valued at $2,935,000 after buying an additional 262,123 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in Proficient Auto Logistics by 128.6% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 323,289 shares of the company's stock valued at $2,706,000 after buying an additional 181,838 shares in the last quarter.

Analyst Ratings Changes

Separately, Stifel Nicolaus decreased their target price on shares of 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.

Proficient Auto Logistics Stock Performance

PAL traded up $0.08 during trading on Monday, reaching $8.20. The company's stock had a trading volume of 30,892 shares, compared to its average volume of 263,513. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.18. The firm has a fifty day simple moving average of $7.45 and a two-hundred day simple moving average of $8.62. Proficient Auto Logistics, Inc. has a 1 year low of $6.55 and a 1 year high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last released 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). The business had revenue of $95.21 million during the quarter, compared to analysts' expectations of $94.65 million. Proficient Auto Logistics had a negative return on equity of 2.05% and a negative net margin of 3.49%. As a group, analysts predict that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current year.

Insider Activity at Proficient Auto Logistics

In other news, CEO Richard D. Odell sold 49,300 shares of Proficient Auto Logistics stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.24, for a total transaction of $406,232.00. Following the sale, the chief executive officer owned 836,172 shares of the company's stock, valued at approximately $6,890,057.28. The trade was a 5.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.90% of the company's stock.

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.