Proficient Auto Logistics, Inc. (NASDAQ:PAL) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 136.9% in the third quarter, Holdings Channel.com reports. The firm owned 347,752 shares of the company’s stock after acquiring an additional 200,977 shares during the quarter. Geode Capital Management LLC’s holdings in Proficient Auto Logistics were worth $4,932,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PAL. SG Americas Securities LLC purchased a new position in shares of Proficient Auto Logistics during the 3rd quarter worth approximately $104,000. MetLife Investment Management LLC acquired a new position in Proficient Auto Logistics during the third quarter worth $129,000. Verition Fund Management LLC purchased a new position in Proficient Auto Logistics in the third quarter worth $152,000. XTX Topco Ltd acquired a new stake in Proficient Auto Logistics in the second quarter valued at $176,000. Finally, Nicholas Hoffman & Company LLC. purchased a new stake in shares of Proficient Auto Logistics during the 3rd quarter worth $177,000.

Proficient Auto Logistics Price Performance

Shares of NASDAQ PAL opened at $8.84 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. The company’s 50-day moving average price is $9.03 and its 200 day moving average price is $13.99. Proficient Auto Logistics, Inc. has a 52 week low of $7.24 and a 52 week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last released its quarterly earnings results on Friday, November 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The business had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. The company’s revenue was down 12.5% compared to the same quarter last year. As a group, sell-side analysts expect that Proficient Auto Logistics, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Barrington Research reduced their price target on shares of Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Finally, Raymond James decreased their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, October 14th.

Insiders Place Their Bets

In other news, CEO Richard D. Odell bought 54,000 shares of Proficient Auto Logistics stock in a transaction on Thursday, November 14th. The shares were bought at an average cost of $9.20 per share, for a total transaction of $496,800.00. Following the acquisition, the chief executive officer now owns 753,802 shares in the company, valued at approximately $6,934,978.40. This trade represents a 7.72 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

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.