Bank of New York Mellon Corp Has $359,000 Stake in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Bank of New York Mellon Corp boosted its position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 27.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,945 shares of the company’s stock after buying an additional 9,261 shares during the period. Bank of New York Mellon Corp owned approximately 0.16% of Proficient Auto Logistics worth $359,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PAL. Wells Fargo & Company MN boosted its stake in shares of Proficient Auto Logistics by 37.9% in the 4th 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 in the last quarter. Squarepoint Ops LLC acquired a new stake in Proficient Auto Logistics during the 4th quarter worth approximately $96,000. Deutsche Bank AG acquired a new stake in Proficient Auto Logistics during the 4th quarter worth approximately $120,000. Barclays PLC increased its position in shares of Proficient Auto Logistics by 15.3% during the fourth quarter. Barclays PLC now owns 25,324 shares of the company’s stock worth $204,000 after buying an additional 3,365 shares during the period. Finally, Federated Hermes Inc. bought a new position in Proficient Auto Logistics during the fourth quarter worth $242,000.

Analyst Upgrades and Downgrades

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 Trading Down 1.2%

NASDAQ:PAL opened at $6.50 on Tuesday. The company has a fifty day moving average of $7.36 and a 200-day moving average of $8.50. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.18. Proficient Auto Logistics, Inc. has a twelve month low of $6.32 and a twelve month high of $20.85.

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 the consensus estimate of $94.65 million. Proficient Auto Logistics had a negative net margin of 3.49% and a negative return on equity of 2.05%. On average, analysts predict that Proficient Auto Logistics, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Proficient Auto Logistics

In other news, CEO Richard D. Odell sold 49,300 shares of Proficient Auto Logistics stock in a transaction on 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 sale, the chief executive officer owned 836,172 shares in the company, valued at $6,890,057.28. The trade was a 5.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.90% of the stock is owned by corporate 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.