Bank of America Corp DE Sells 8,652 Shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Bank of America Corp DE lessened its holdings in Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 34.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,500 shares of the company’s stock after selling 8,652 shares during the period. Bank of America Corp DE owned approximately 0.06% of Proficient Auto Logistics worth $133,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PAL. Quantbot Technologies LP purchased a new position in Proficient Auto Logistics during the fourth quarter worth $49,000. Wells Fargo & Company MN boosted its stake in shares of Proficient Auto Logistics by 37.9% during the fourth quarter. Wells Fargo & Company MN now owns 8,640 shares of the company’s stock valued at $70,000 after purchasing an additional 2,373 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Proficient Auto Logistics during the fourth quarter valued at $90,000. Nicholas Hoffman & Company LLC. boosted its stake in shares of Proficient Auto Logistics by 20.0% during the fourth quarter. Nicholas Hoffman & Company LLC. now owns 15,000 shares of the company’s stock valued at $121,000 after purchasing an additional 2,500 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Proficient Auto Logistics by 7.9% during the fourth quarter. Rhumbline Advisers now owns 16,971 shares of the company’s stock valued at $137,000 after purchasing an additional 1,238 shares during the period.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their target price on shares of Proficient Auto Logistics from $17.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Proficient Auto Logistics Stock Down 2.9%

Shares of PAL opened at $7.03 on Tuesday. Proficient Auto Logistics, Inc. has a 12-month low of $6.61 and a 12-month high of $21.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average price of $7.94 and a 200-day moving average price of $8.93.

Proficient Auto Logistics (NASDAQ:PAL) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $95.21 million during the quarter, compared to analysts’ expectations of $94.65 million. On average, equities analysts expect that Proficient Auto Logistics, Inc. will post 0.34 EPS for the current year.

Insider Activity at Proficient Auto Logistics

In other Proficient Auto Logistics news, CEO Richard D. Odell sold 49,300 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $8.24, for a total value of $406,232.00. Following the completion of the transaction, the chief executive officer now directly owns 836,172 shares in the company, valued at approximately $6,890,057.28. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.90% of the stock is currently owned by corporate insiders.

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.