Proficient Auto Logistics, Inc. (NASDAQ:PAL) Short Interest Update

Proficient Auto Logistics, Inc. (NASDAQ:PAL) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 836,000 shares, an increase of 56.6% from the October 15th total of 533,800 shares. Based on an average trading volume of 329,200 shares, the short-interest ratio is presently 2.5 days. Currently, 4.0% of the company’s shares are short sold.

Insider Activity at Proficient Auto Logistics

In other news, Director James B. Gattoni purchased 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were bought at an average cost of $18.98 per share, for a total transaction of $379,600.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $379,600. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard D. Odell bought 54,000 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average price of $9.20 per share, with a total value of $496,800.00. Following the transaction, the chief executive officer now directly owns 753,802 shares of the company’s stock, valued at approximately $6,934,978.40. This trade represents a 7.72 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Proficient Auto Logistics

Several institutional investors and hedge funds have recently added to or reduced their stakes in PAL. American Century Companies Inc. purchased a new position in Proficient Auto Logistics in the second quarter worth $20,687,000. Millennium Management LLC acquired a new position in shares of Proficient Auto Logistics in the 2nd quarter valued at $14,446,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Proficient Auto Logistics during the second quarter worth about $12,077,000. De Lisle Partners LLP increased its holdings in Proficient Auto Logistics by 23.8% in the 3rd quarter. De Lisle Partners LLP now owns 557,000 shares of the company’s stock worth $7,906,000 after buying an additional 107,000 shares during the period. Finally, Hood River Capital Management LLC purchased a new position in Proficient Auto Logistics during the 2nd quarter worth approximately $5,600,000.

Proficient Auto Logistics Price Performance

Shares of PAL stock opened at $9.54 on Friday. Proficient Auto Logistics has a 52-week low of $8.06 and a 52-week high of $21.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 1.36. The company’s 50 day simple moving average is $12.53.

Proficient Auto Logistics (NASDAQ:PAL) last announced its quarterly 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 company had revenue of $91.50 million during the quarter, compared to analysts’ expectations of $89.54 million. The company’s revenue was down 12.5% on a year-over-year basis. Sell-side analysts expect that Proficient Auto Logistics will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PAL shares. Stifel Nicolaus cut 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 report on Thursday, October 17th. Raymond James reduced their target price on shares of Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, October 14th. Finally, Barrington Research dropped their price objective on Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday.

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.