Proficient Auto Logistics (NASDAQ:PAL) CFO Bradley Wright Buys 4,000 Shares

Key Points

• CFO Bradley Wright bought 4,000 PAL shares at an average price of $5.55, investing $22,200 and increasing his ownership by 6.04% to 70,200 shares.
• PAL shares were trading near $5.50, well below their 50-day and 200-day moving averages of roughly $7.00, with a market capitalization of about $152.7 million.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and a $12 price target, while recent reports included both “Buy” upgrades and “Sell” downgrades.

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report) CFO Bradley Wright purchased 4,000 shares of the stock in a transaction on Thursday, August 13th. The shares were acquired at an average cost of $5.55 per share, for a total transaction of $22,200.00. Following the transaction, the chief financial officer owned 70,200 shares of the company's stock, valued at approximately $389,610. The trade was a 6.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Proficient Auto Logistics Stock Performance

Shares of PAL traded up $0.02 during mid-day trading on Friday, reaching $5.50. The company's stock had a trading volume of 703,099 shares, compared to its average volume of 607,984. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics, Inc. has a 1-year low of $4.85 and a 1-year high of $10.97. The business has a 50-day simple moving average of $7.02 and a two-hundred day simple moving average of $7.01. The stock has a market cap of $152.74 million, a P/E ratio of -3.90 and a beta of 1.25.

Institutional Investors Weigh In On Proficient Auto Logistics

A number of hedge funds and other institutional investors have recently made changes to their positions in PAL. Canada Pension Plan Investment Board bought a new stake in shares of Proficient Auto Logistics in the second quarter valued at approximately $265,000. Manatuck Hill Partners LLC bought a new position in Proficient Auto Logistics during the 2nd quarter worth $340,000. De Lisle Partners LLP acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at $3,914,000. Ieq Capital LLC bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter valued at $122,000. Finally, CM Wealth Advisors LLC acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth $729,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of Proficient Auto Logistics from a "hold" rating to a "sell" rating in a research note on Sunday, August 2nd. Zacks Research cut shares of Proficient Auto Logistics from a "hold" rating to a "strong sell" rating in a report on Monday. Stifel Nicolaus upped their target price on Proficient Auto Logistics from $9.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday. Weiss Ratings cut Proficient Auto Logistics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. Finally, Barrington Research set a $12.00 price objective on Proficient Auto Logistics in a report on Tuesday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $12.00.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.

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