VELA Investment Management LLC Invests $1.39 Million in Proficient Auto Logistics, Inc. $PAL

VELA Investment Management LLC acquired a new position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 201,058 shares of the company’s stock, valued at approximately $1,385,000. VELA Investment Management LLC owned 0.72% of Proficient Auto Logistics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in shares of Proficient Auto Logistics during the 2nd quarter worth about $29,000. Jones Financial Companies Lllp bought a new position in Proficient Auto Logistics in the 1st quarter valued at about $73,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Proficient Auto Logistics by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company’s stock worth $105,000 after acquiring an additional 3,866 shares during the last quarter. PharVision Advisers LLC bought a new stake in shares of Proficient Auto Logistics during the second quarter worth approximately $162,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Proficient Auto Logistics in the first quarter valued at approximately $215,000.

Proficient Auto Logistics Price Performance

Shares of NASDAQ:PAL opened at $10.17 on Thursday. The firm has a 50 day moving average of $9.26 and a 200-day moving average of $7.88. Proficient Auto Logistics, Inc. has a 12 month low of $5.76 and a 12 month high of $11.37. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $283.03 million, a PE ratio of -508.50, a PEG ratio of 1.90 and a beta of 2.18.

Insider Buying and Selling

In other Proficient Auto Logistics news, Director John Skiadas sold 41,100 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $7.34, for a total transaction of $301,674.00. Following the completion of the sale, the director directly owned 1,870,867 shares in the company, valued at $13,732,163.78. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 75,000 shares of company stock worth $548,429 in the last three months. 13.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $12.00 price objective on shares of Proficient Auto Logistics in a report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Proficient Auto Logistics in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus raised their price target on shares of Proficient Auto Logistics from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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. It serves auto companies, electric vehicle producers, auto dealers, auto auctions, rental car companies, and auto leasing companies.