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

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

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC bought a new stake in Proficient Auto Logistics during the 3rd quarter valued at $311,000. Rhumbline Advisers increased its stake in shares of Proficient Auto Logistics by 7.9% during the fourth quarter. Rhumbline Advisers now owns 16,971 shares of the company's stock valued at $137,000 after buying an additional 1,238 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in shares of Proficient Auto Logistics by 20.0% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company's stock valued at $121,000 after acquiring an additional 2,500 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Proficient Auto Logistics by 10.8% in the fourth quarter. Bank of New York Mellon Corp now owns 33,684 shares of the company's stock worth $272,000 after acquiring an additional 3,287 shares during the period. Finally, Victory Capital Management Inc. bought a new position in Proficient Auto Logistics during the 4th quarter worth about $90,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PAL shares. Barrington Research reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Proficient Auto Logistics in a research report on Wednesday, February 12th. Stifel Nicolaus lowered their target price on Proficient Auto Logistics from $18.00 to $17.00 and set a "buy" rating for the company in a report on Monday, April 14th.

Proficient Auto Logistics Stock Down 1.7 %

PAL stock opened at $8.14 on Wednesday. The firm has a 50-day simple moving average of $8.85 and a two-hundred day simple moving average of $9.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. Proficient Auto Logistics, Inc. has a one year low of $6.81 and a one year high of $21.01.

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.

Want to see what other hedge funds are holding PAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Proficient Auto Logistics, Inc. (NASDAQ:PAL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.