Squarepoint Ops LLC Purchases New Position in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Squarepoint Ops LLC purchased a new stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,919 shares of the company’s stock, valued at approximately $96,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in Proficient Auto Logistics by 12.4% in the fourth quarter. American Century Companies Inc. now owns 1,453,428 shares of the company’s stock valued at $11,729,000 after acquiring an additional 160,032 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in Proficient Auto Logistics by 5.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 458,991 shares of the company’s stock valued at $3,704,000 after acquiring an additional 25,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Proficient Auto Logistics by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 367,933 shares of the company’s stock valued at $2,970,000 after acquiring an additional 20,181 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Proficient Auto Logistics by 258.1% in the fourth quarter. Franklin Resources Inc. now owns 363,670 shares of the company’s stock valued at $2,935,000 after acquiring an additional 262,123 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Proficient Auto Logistics by 61.1% in the fourth quarter. First Eagle Investment Management LLC now owns 357,748 shares of the company’s stock valued at $2,887,000 after acquiring an additional 135,720 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus decreased their price target on Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Barrington Research reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Proficient Auto Logistics in a research report on Wednesday, February 12th.

Proficient Auto Logistics Price Performance

PAL stock opened at $7.54 on Tuesday. The firm has a 50 day moving average of $7.96 and a 200-day moving average of $9.03. Proficient Auto Logistics, Inc. has a 12-month low of $6.61 and a 12-month high of $21.01. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.16.

Proficient Auto Logistics (NASDAQ:PAL) last released its earnings results on Wednesday, May 7th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.05). The business had revenue of $95.21 million for the quarter, compared to analysts’ expectations of $94.65 million. As a group, research analysts expect that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Richard D. Odell sold 49,300 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $8.24, for a total transaction of $406,232.00. Following the completion of the transaction, the chief executive officer now directly owns 836,172 shares of the company’s stock, valued at approximately $6,890,057.28. This represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.90% of the stock is currently owned by company insiders.

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.