Acadian Asset Management LLC Sells 2,892 Shares of P.A.M. Transportation Services, Inc. (NASDAQ:PTSI)

Acadian Asset Management LLC lowered its position in shares of P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) by 8.6% in the second quarter, HoldingsChannel reports. The fund owned 30,858 shares of the transportation company’s stock after selling 2,892 shares during the period. Acadian Asset Management LLC’s holdings in P.A.M. Transportation Services were worth $534,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Horrell Capital Management Inc. increased its position in shares of P.A.M. Transportation Services by 0.5% in the first quarter. Horrell Capital Management Inc. now owns 117,484 shares of the transportation company’s stock valued at $1,904,000 after acquiring an additional 588 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of P.A.M. Transportation Services by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 54,345 shares of the transportation company’s stock worth $944,000 after purchasing an additional 701 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of P.A.M. Transportation Services by 38.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,986 shares of the transportation company’s stock worth $48,000 after purchasing an additional 837 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of P.A.M. Transportation Services by 0.8% in the first quarter. Vanguard Group Inc. now owns 342,117 shares of the transportation company’s stock valued at $5,546,000 after buying an additional 2,808 shares in the last quarter. Finally, Pinnacle Holdings LLC increased its holdings in P.A.M. Transportation Services by 8.3% during the fourth quarter. Pinnacle Holdings LLC now owns 43,645 shares of the transportation company’s stock worth $907,000 after buying an additional 3,361 shares during the last quarter. 22.06% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Matthew T. Moroun bought 4,073,700 shares of the stock in a transaction dated Monday, July 29th. The shares were bought at an average price of $18.18 per share, for a total transaction of $74,059,866.00. Following the completion of the purchase, the director now owns 10,427,848 shares in the company, valued at $189,578,276.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 68.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of P.A.M. Transportation Services from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th.

P.A.M. Transportation Services Stock Performance

Shares of NASDAQ PTSI opened at $18.53 on Thursday. The company has a current ratio of 2.05, a quick ratio of 2.03 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $403.03 million, a P/E ratio of 30.38 and a beta of 1.12. P.A.M. Transportation Services, Inc. has a 12 month low of $13.51 and a 12 month high of $22.88. The stock has a 50 day moving average of $18.38 and a 200-day moving average of $16.96.

P.A.M. Transportation Services (NASDAQ:PTSI) last posted its earnings results on Wednesday, July 24th. The transportation company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.21). The company had revenue of $182.95 million for the quarter. P.A.M. Transportation Services had a return on equity of 0.40% and a net margin of 0.17%. As a group, equities research analysts predict that P.A.M. Transportation Services, Inc. will post -0.03 EPS for the current year.

P.A.M. Transportation Services Profile

P.A.M. Transportation Services, Inc, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company operates a truckload dry van carrier that transports general commodities, such as automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units.