SG Americas Securities LLC Acquires Shares of 7,328 Proficient Auto Logistics, Inc. (NASDAQ:PAL)

SG Americas Securities LLC bought a new stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,328 shares of the company’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also modified their holdings of PAL. XTX Topco Ltd acquired a new stake in shares of Proficient Auto Logistics in the second quarter worth about $176,000. Federated Hermes Inc. acquired a new stake in Proficient Auto Logistics in the 2nd quarter worth approximately $257,000. Blair William & Co. IL bought a new stake in Proficient Auto Logistics during the second quarter worth approximately $660,000. Marshall Wace LLP bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $1,082,000. Finally, Emerald Advisers LLC acquired a new position in shares of Proficient Auto Logistics during the 2nd quarter worth about $1,172,000.

Proficient Auto Logistics Price Performance

Proficient Auto Logistics stock opened at $8.36 on Monday. The business has a fifty day simple moving average of $15.49. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10. Proficient Auto Logistics, Inc. has a 52 week low of $8.26 and a 52 week high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last issued its quarterly earnings results on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. The company had revenue of $106.61 million during the quarter, compared to analyst estimates of $101.69 million. Proficient Auto Logistics’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that Proficient Auto Logistics, Inc. will post 0.51 earnings per share for the current fiscal year.

Insider Activity

In other Proficient Auto Logistics news, Director James B. Gattoni purchased 20,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average price of $18.98 per share, with a total value of $379,600.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $379,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PAL has been the subject of a number of research analyst reports. Barrington Research cut their price objective on shares of Proficient Auto Logistics from $22.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus cut their price target on Proficient Auto Logistics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Raymond James decreased their price objective on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, October 14th.

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.