Emerald Mutual Fund Advisers Trust Invests $12.08 Million in Proficient Auto Logistics, Inc. (NASDAQ:PAL)

Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 752,016 shares of the company’s stock, valued at approximately $12,077,000. Emerald Mutual Fund Advisers Trust owned about 2.88% of Proficient Auto Logistics as of its most recent SEC filing.

Proficient Auto Logistics Stock Performance

Shares of NASDAQ PAL opened at $17.90 on Friday. Proficient Auto Logistics, Inc. has a 1 year low of $14.50 and a 1 year high of $21.01. The company’s 50-day moving average is $18.55.

Proficient Auto Logistics (NASDAQ:PAL) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.08. The firm had revenue of $106.61 million for the quarter, compared to the consensus estimate of $101.69 million. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Proficient Auto Logistics, Inc. will post 0.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PAL has been the topic of a number of analyst reports. Barrington Research began coverage on shares of Proficient Auto Logistics in a research report on Wednesday, July 17th. They issued an “outperform” rating and a $22.00 price objective on the stock. Raymond James boosted their price target on Proficient Auto Logistics from $18.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Stifel Nicolaus initiated coverage on Proficient Auto Logistics in a report on Monday, June 3rd. They issued a “buy” rating and a $19.00 price objective for the company. Finally, William Blair initiated coverage on Proficient Auto Logistics in a research note on Monday, June 3rd. They set an “outperform” rating on the stock.

Insider Buying and Selling

In other news, Director James B. Gattoni acquired 20,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was acquired 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 owns 20,000 shares of the company’s stock, valued at approximately $379,600. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by 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.