First Eagle Investment Management LLC Sells 351,004 Shares of Proficient Auto Logistics, Inc. $PAL

Key Points

• First Eagle Investment Management cut its stake in Proficient Auto Logistics by 68%, selling 351,004 shares and leaving the firm with 165,469 shares (about 0.60% of the company) valued at ~$1.14 million.
• The stock has a mixed analyst picture—two Buys, one Hold and one Sell with a consensus target of $11—and is trading down (opened at $7.04), with a market cap of about $196M and a 12‑month range of $5.76–$10.97.

First Eagle Investment Management LLC cut its position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 68.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 165,469 shares of the company's stock after selling 351,004 shares during the period. First Eagle Investment Management LLC owned approximately 0.60% of Proficient Auto Logistics worth $1,140,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of Proficient Auto Logistics during the 1st quarter valued at approximately $73,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Proficient Auto Logistics by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company's stock worth $105,000 after purchasing an additional 3,866 shares during the last quarter. PharVision Advisers LLC purchased a new stake in Proficient Auto Logistics during the second quarter valued at $162,000. Sender Co & Partners Inc. bought a new position in Proficient Auto Logistics during the second quarter valued at $189,000. Finally, Bridgeway Capital Management LLC bought a new position in Proficient Auto Logistics during the second quarter valued at $189,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reduced their target price on shares of Proficient Auto Logistics from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Tuesday. Barrington Research reiterated an "outperform" rating and issued a $12.00 price target on shares of Proficient Auto Logistics in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $11.00.

Proficient Auto Logistics Trading Down 6.0%

Shares of PAL opened at $7.04 on Friday. The company's fifty day simple moving average is $9.08 and its 200-day simple moving average is $8.16. The company has a market cap of $195.92 million, a P/E ratio of -5.77, a P/E/G ratio of 2.32 and a beta of 2.44. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17. Proficient Auto Logistics, Inc. has a twelve month low of $5.76 and a twelve month high of $10.97.

Proficient Auto Logistics Company 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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.

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