Proficient Auto Logistics, Inc. (NASDAQ:PAL) Shares Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust grew its position in Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 128.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,289 shares of the company's stock after buying an additional 181,838 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 1.19% of Proficient Auto Logistics worth $2,706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PAL. Quantbot Technologies LP acquired a new position in shares of Proficient Auto Logistics during the fourth quarter worth about $49,000. Wells Fargo & Company MN grew its position in shares of 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 buying an additional 2,373 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Proficient Auto Logistics during the fourth quarter worth about $90,000. Squarepoint Ops LLC acquired a new position in Proficient Auto Logistics during the fourth quarter worth approximately $96,000. Finally, Deutsche Bank AG purchased a new stake in Proficient Auto Logistics in the fourth quarter valued at approximately $120,000.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered their target price 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.

Proficient Auto Logistics Price Performance

Proficient Auto Logistics stock traded down $0.35 during trading hours on Tuesday, hitting $7.29. The stock had a trading volume of 203,811 shares, compared to its average volume of 267,975. Proficient Auto Logistics, Inc. has a 1-year low of $6.55 and a 1-year high of $21.01. The stock's fifty day moving average is $7.54 and its two-hundred day moving average is $8.70. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.18.

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

Insider Buying and Selling

In other news, CEO Richard D. Odell sold 49,300 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.24, for a total value of $406,232.00. Following the completion of the transaction, the chief executive officer owned 836,172 shares of the company's stock, valued at $6,890,057.28. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company 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.