Walleye Capital LLC Boosts Stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Walleye Capital LLC increased its position in Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 48.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 103,391 shares of the company’s stock after purchasing an additional 33,958 shares during the period. Walleye Capital LLC owned 0.40% of Proficient Auto Logistics worth $1,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. American Century Companies Inc. purchased a new stake in shares of Proficient Auto Logistics in the 2nd quarter valued at about $20,687,000. Millennium Management LLC acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at about $14,446,000. Emerald Mutual Fund Advisers Trust acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at about $12,077,000. De Lisle Partners LLP increased its position in Proficient Auto Logistics by 23.8% in the 3rd quarter. De Lisle Partners LLP now owns 557,000 shares of the company’s stock valued at $7,906,000 after acquiring an additional 107,000 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in Proficient Auto Logistics in the 2nd quarter valued at about $5,600,000.

Insider Transactions at Proficient Auto Logistics

In other news, CEO Richard D. Odell purchased 54,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were acquired at an average price of $9.20 per share, with a total value of $496,800.00. Following the purchase, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at $6,934,978.40. The trade was a 7.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Proficient Auto Logistics Stock Performance

NASDAQ PAL opened at $9.89 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $10.70 and its two-hundred day moving average is $14.98. Proficient Auto Logistics, Inc. has a 12-month low of $8.06 and a 12-month high of $21.01.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAL. Stifel Nicolaus dropped their price target on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Barrington Research dropped their price target on Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Raymond James dropped their price target on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th.

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.