State Street Corp Has $2.23 Million Position in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

State Street Corp boosted its holdings in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 199.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,551 shares of the company’s stock after purchasing an additional 104,851 shares during the period. State Street Corp’s holdings in Proficient Auto Logistics were worth $2,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Eagle Investment Management LLC acquired a new stake in Proficient Auto Logistics during the 2nd quarter worth $1,867,000. AYAL Capital Advisors Ltd acquired a new position in shares of Proficient Auto Logistics during the 2nd quarter worth about $5,220,000. Wedge Capital Management L L P NC bought a new position in shares of Proficient Auto Logistics in the 3rd quarter valued at about $1,691,000. Emerald Advisers LLC acquired a new position in Proficient Auto Logistics during the second quarter valued at approximately $1,172,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Proficient Auto Logistics during the 3rd quarter worth approximately $1,362,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PAL. Stifel Nicolaus dropped their price target on shares of 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. Raymond James reduced their price objective on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Monday, October 14th. Finally, Barrington Research dropped their price objective on shares of 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.

Proficient Auto Logistics Trading Up 2.5 %

Shares of NASDAQ:PAL opened at $8.07 on Thursday. The business has a 50 day moving average of $9.02 and a 200-day moving average of $14.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.25 and a current ratio of 1.25. Proficient Auto Logistics, Inc. has a 12-month low of $7.24 and a 12-month high of $21.01.

Proficient Auto Logistics (NASDAQ:PAL) last announced its earnings results on Friday, November 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $91.50 million during the quarter, compared to the consensus estimate of $89.54 million. Proficient Auto Logistics’s revenue was down 12.5% compared to the same quarter last year. On average, equities analysts predict that Proficient Auto Logistics, Inc. will post 0.4 earnings per share for the current year.

Insider Transactions at Proficient Auto Logistics

In other news, CEO Richard D. Odell bought 54,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were purchased at an average cost of $9.20 per share, with a total value of $496,800.00. Following the acquisition, the chief executive officer now directly owns 753,802 shares in the company, valued at $6,934,978.40. This represents a 7.72 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

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.