Proficient Auto Logistics (NASDAQ:PAL) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Key Points

• Proficient Auto Logistics reported quarterly earnings of $0.03 per share, missing the consensus estimate of $0.11 by $0.08.
• CEO Richard D. Odell sold 49,300 shares at an average price of $8.24, reducing his ownership by 5.57%.
• Goldman Sachs increased its holdings in Proficient Auto Logistics by 138.3% during Q1, now owning 105,585 shares.

Proficient Auto Logistics (NASDAQ:PAL - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08), Zacks reports. The firm had revenue of $115.55 million during the quarter, compared to analysts' expectations of $106.43 million. Proficient Auto Logistics had a negative net margin of 2.87% and a negative return on equity of 1.02%.

Proficient Auto Logistics Price Performance

Shares of NASDAQ PAL traded down $0.31 during midday trading on Friday, hitting $7.73. 117,967 shares of the company traded hands, compared to its average volume of 256,686. Proficient Auto Logistics has a 12-month low of $5.88 and a 12-month high of $20.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a 50-day moving average price of $7.19 and a 200 day moving average price of $8.33.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PAL shares. Stifel Nicolaus set a $13.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday. Barrington Research restated an "outperform" rating and set a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday.

Institutional Investors Weigh In On Proficient Auto Logistics

Several hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in shares of Proficient Auto Logistics by 5.9% in the first quarter. Millennium Management LLC now owns 634,277 shares of the company's stock worth $5,309,000 after buying an additional 35,335 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Proficient Auto Logistics by 8.7% in the second quarter. Geode Capital Management LLC now owns 491,654 shares of the company's stock worth $3,570,000 after buying an additional 39,338 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Proficient Auto Logistics by 138.3% in the first quarter. Goldman Sachs Group Inc. now owns 105,585 shares of the company's stock worth $884,000 after buying an additional 61,272 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Proficient Auto Logistics by 220.7% in the second quarter. Marshall Wace LLP now owns 83,800 shares of the company's stock worth $608,000 after buying an additional 57,672 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Proficient Auto Logistics in the first quarter worth approximately $311,000.

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.