JPMorgan Chase & Co. Sells 48,628 Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL)

JPMorgan Chase & Co. lowered its stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report) by 87.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,126 shares of the company's stock after selling 48,628 shares during the quarter. JPMorgan Chase & Co.'s holdings in Proficient Auto Logistics were worth $58,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. increased its stake in Proficient Auto Logistics by 12.4% during the 4th quarter. American Century Companies Inc. now owns 1,453,428 shares of the company's stock valued at $11,729,000 after purchasing an additional 160,032 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Proficient Auto Logistics by 163.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 253,030 shares of the company's stock worth $2,042,000 after purchasing an additional 156,967 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Proficient Auto Logistics by 61.1% during the 4th quarter. First Eagle Investment Management LLC now owns 357,748 shares of the company's stock worth $2,887,000 after purchasing an additional 135,720 shares in the last quarter. Boston Partners bought a new stake in shares of Proficient Auto Logistics in the 4th quarter worth $686,000. Finally, WINTON GROUP Ltd bought a new stake in shares of Proficient Auto Logistics in the 4th quarter worth $480,000.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PAL shares. Barrington Research reissued an "outperform" rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a report on Wednesday, February 12th. Stifel Nicolaus dropped their price objective on Proficient Auto Logistics from $17.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday.

Proficient Auto Logistics Stock Performance

NASDAQ PAL traded up $0.42 on Monday, reaching $7.60. 17,520 shares of the company's stock traded hands, compared to its average volume of 272,444. The stock has a 50-day simple moving average of $8.70 and a 200 day simple moving average of $9.21. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics, Inc. has a 12 month low of $6.81 and a 12 month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) last posted 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). The business had revenue of $95.21 million for the quarter, compared to analyst estimates of $94.65 million. On average, research analysts anticipate that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current fiscal year.

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.