45,025 Shares in Proficient Auto Logistics, Inc. (NASDAQ:PAL) Purchased by Emerald Advisers LLC

Emerald Advisers LLC purchased a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 quarter.

A number of other institutional investors also recently bought and sold shares of PAL. Quantbot Technologies LP purchased a new position in shares of Proficient Auto Logistics during the 4th quarter valued at approximately $49,000. Wells Fargo & Company MN grew 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 valued at $70,000 after acquiring an additional 2,373 shares during the period. Victory Capital Management Inc. acquired a new stake in Proficient Auto Logistics in the 4th quarter valued at $90,000. Squarepoint Ops LLC acquired a new stake in Proficient Auto Logistics in the 4th quarter valued at $96,000. Finally, Deutsche Bank AG acquired a new stake in Proficient Auto Logistics in the 4th quarter valued at $120,000.

Proficient Auto Logistics Stock Performance

NASDAQ:PAL traded down $0.06 on Thursday, reaching $7.14. 94,279 shares of the company's stock were exchanged, compared to its average volume of 267,643. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.18. The business has a fifty day moving average of $7.50 and a 200-day moving average of $8.67. Proficient Auto Logistics, Inc. has a 52-week low of $6.55 and a 52-week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.05). Proficient Auto Logistics had a negative return on equity of 2.05% and a negative net margin of 3.49%. The business had revenue of $95.21 million for the quarter, compared to analysts' expectations of $94.65 million. Equities analysts predict that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Proficient Auto Logistics

In other news, CEO Richard D. Odell sold 49,300 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.24, for a total value of $406,232.00. Following the completion of the sale, the chief executive officer directly owned 836,172 shares of the company's stock, valued at approximately $6,890,057.28. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price target 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 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.