Russell Investments Group Ltd. Buys 406,614 Shares of Proficient Auto Logistics, Inc. $PAL

Key Points

• Russell Investments Group Ltd. raised its stake in Proficient Auto Logistics, Inc. by 137.9%, acquiring over 406,000 additional shares, bringing its total ownership to approximately 701,513 shares worth $5.87 million.
• Proficient Auto Logistics shares opened at $7.64 and have experienced a 6.4% decline, with a 1-year low of $5.88 and high of $20.58.
• Analysts have a consensus rating of "Buy" for the stock, with target prices ranging from $12.00 to $14.67, and a recent report by Stifel Nicolaus set a price objective of $13.00.

Russell Investments Group Ltd. boosted its position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 137.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 701,513 shares of the company's stock after purchasing an additional 406,614 shares during the period. Russell Investments Group Ltd. owned 2.59% of Proficient Auto Logistics worth $5,872,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Proficient Auto Logistics by 37.9% during the fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company's stock valued at $70,000 after purchasing an additional 2,373 shares during the last quarter. Victory Capital Management Inc. boosted its position in Proficient Auto Logistics by 29.0% during the first quarter. Victory Capital Management Inc. now owns 14,345 shares of the company's stock valued at $120,000 after purchasing an additional 3,225 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in Proficient Auto Logistics by 2.8% during the first quarter. Wedge Capital Management L L P NC now owns 121,687 shares of the company's stock valued at $1,019,000 after purchasing an additional 3,342 shares during the last quarter. Barclays PLC boosted its position in Proficient Auto Logistics by 15.3% during the fourth quarter. Barclays PLC now owns 25,324 shares of the company's stock valued at $204,000 after purchasing an additional 3,365 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Proficient Auto Logistics by 4.8% during the fourth quarter. Northern Trust Corp now owns 127,956 shares of the company's stock valued at $1,033,000 after purchasing an additional 5,850 shares during the last quarter.

Proficient Auto Logistics Stock Up 0.7%

Shares of NASDAQ PAL traded up $0.06 during trading hours on Tuesday, hitting $8.28. 103,923 shares of the company's stock were exchanged, compared to its average volume of 184,506. Proficient Auto Logistics, Inc. has a 1-year low of $5.88 and a 1-year high of $19.91. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.16 and a quick ratio of 1.16. The company's 50-day moving average price is $7.31 and its 200-day moving average price is $8.26.

Analysts Set New Price Targets

A number of research firms recently issued reports on PAL. Stifel Nicolaus set a $13.00 price objective on Proficient Auto Logistics in a research report on Tuesday, August 12th. Barrington Research reaffirmed an "outperform" rating and issued a $12.00 price target on shares of Proficient Auto Logistics in a research report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $14.67.

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.