Emerald Advisers LLC Invests $377,000 in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Emerald Advisers LLC acquired a new stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 45,025 shares of the company's stock, valued at approximately $377,000. Emerald Advisers LLC owned about 0.17% of Proficient Auto Logistics at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust grew its position in Proficient Auto Logistics by 128.6% during the first 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 during the period. Bank of New York Mellon Corp boosted its stake in shares of Proficient Auto Logistics by 27.5% during the 1st quarter. Bank of New York Mellon Corp now owns 42,945 shares of the company's stock worth $359,000 after acquiring an additional 9,261 shares in the last quarter. Wedge Capital Management L L P NC grew its position in shares of Proficient Auto Logistics by 2.8% during the 1st quarter. Wedge Capital Management L L P NC now owns 121,687 shares of the company's stock valued at $1,019,000 after acquiring an additional 3,342 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Proficient Auto Logistics in the 4th quarter valued at about $96,000. Finally, Deutsche Bank AG purchased a new position in shares of Proficient Auto Logistics in the 4th quarter valued at about $120,000.

Proficient Auto Logistics Stock Performance

PAL stock opened at $7.94 on Monday. 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, Inc. has a 12-month low of $6.55 and a 12-month high of $21.01. The business's fifty day moving average price is $7.55 and its 200 day moving average price is $8.70.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate 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 net margin of 3.49% and a negative return on equity of 2.05%. On average, equities research analysts expect that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Richard D. Odell sold 49,300 shares of Proficient Auto Logistics stock in a transaction dated Friday, May 16th. The stock was 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 in the company, valued at approximately $6,890,057.28. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.