Proficient Auto Logistics, Inc. $PAL Shares Bought by Russell Investments Group Ltd.

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. increased its stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 137.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 701,513 shares of the company's stock after acquiring an additional 406,614 shares during the period. Russell Investments Group Ltd. owned approximately 2.59% of Proficient Auto Logistics worth $5,872,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PAL. Wells Fargo & Company MN boosted its holdings in shares of Proficient Auto Logistics by 37.9% in the fourth 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 in the last quarter. Squarepoint Ops LLC bought a new position in shares of Proficient Auto Logistics in the fourth quarter valued at approximately $96,000. Deutsche Bank AG bought a new position in shares of Proficient Auto Logistics in the fourth quarter valued at approximately $120,000. Victory Capital Management Inc. boosted its holdings in shares of Proficient Auto Logistics by 29.0% in the first quarter. Victory Capital Management Inc. now owns 14,345 shares of the company's stock valued at $120,000 after acquiring an additional 3,225 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Proficient Auto Logistics by 15.3% in the fourth quarter. Barclays PLC now owns 25,324 shares of the company's stock valued at $204,000 after acquiring an additional 3,365 shares in the last quarter.

Proficient Auto Logistics Stock Down 6.4%

Shares of NASDAQ:PAL opened at $7.64 on Thursday. Proficient Auto Logistics, Inc. has a 1-year low of $5.88 and a 1-year high of $20.58. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.25 and a current ratio of 1.16. The company has a 50 day moving average price of $7.23 and a 200 day moving average price of $8.28.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stifel Nicolaus set a $13.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday, August 12th. Barrington Research reiterated an "outperform" rating and issued a $12.00 price objective on shares of Proficient Auto Logistics in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $14.67.

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.

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