Proficient Auto Logistics, Inc. (NASDAQ:PAL) Position Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 53.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,733 shares of the company’s stock after purchasing an additional 46,312 shares during the period. Charles Schwab Investment Management Inc. owned about 0.52% of Proficient Auto Logistics worth $1,896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth about $12,077,000. Emerald Advisers LLC acquired a new position in Proficient Auto Logistics in the 2nd quarter worth about $1,172,000. American Century Companies Inc. acquired a new position in shares of Proficient Auto Logistics during the 2nd quarter worth $20,687,000. Federated Hermes Inc. bought a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth about $257,000. Finally, Blair William & Co. IL bought a new position in shares of Proficient Auto Logistics in the second quarter valued at approximately $660,000.

Insider Activity at Proficient Auto Logistics

In related news, CEO Richard D. Odell bought 54,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 753,802 shares in the company, valued at $6,934,978.40. The trade was a 7.72 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barrington Research cut their price target on Proficient Auto Logistics from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Stifel Nicolaus lowered their target price 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. Finally, Raymond James decreased their target price on Proficient Auto Logistics from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, October 14th.

Proficient Auto Logistics Trading Down 0.7 %

Shares of NASDAQ PAL opened at $9.15 on Tuesday. The firm’s 50-day moving average is $9.95 and its 200-day moving average is $14.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.16. Proficient Auto Logistics, Inc. has a 1 year low of $8.06 and a 1 year high of $21.01.

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 the consensus estimate of $0.06 by $0.01. The firm had revenue of $91.50 million during the quarter, compared to analyst estimates of $89.54 million. Proficient Auto Logistics’s revenue for the quarter was down 12.5% on a year-over-year basis. Equities analysts expect that Proficient Auto Logistics, Inc. will post 0.4 EPS for the current year.

Proficient Auto Logistics 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.