Proficient Auto Logistics, Inc. $PAL Shares Bought by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lifted its position in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) by 26.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 843,499 shares of the company’s stock after acquiring an additional 176,880 shares during the period. Diamond Hill Capital Management Inc. owned 3.04% of Proficient Auto Logistics worth $5,812,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Boston Partners raised its holdings in shares of Proficient Auto Logistics by 47.9% during the second quarter. Boston Partners now owns 2,141,012 shares of the company’s stock valued at $15,540,000 after buying an additional 693,225 shares during the last quarter. Optimize Financial Inc raised its stake in Proficient Auto Logistics by 50.0% during the 3rd quarter. Optimize Financial Inc now owns 459,699 shares of the company’s stock valued at $3,167,000 after acquiring an additional 153,233 shares in the last quarter. American Century Companies Inc. raised its stake in Proficient Auto Logistics by 18.2% during the 2nd quarter. American Century Companies Inc. now owns 1,795,883 shares of the company’s stock valued at $13,038,000 after acquiring an additional 276,269 shares in the last quarter. VELA Investment Management LLC acquired a new position in Proficient Auto Logistics during the 3rd quarter worth $1,385,000. Finally, AYAL Capital Advisors Ltd grew its stake in shares of Proficient Auto Logistics by 30.3% in the second quarter. AYAL Capital Advisors Ltd now owns 590,700 shares of the company’s stock worth $4,288,000 after purchasing an additional 137,241 shares in the last quarter.

Proficient Auto Logistics Trading Up 4.3%

NASDAQ:PAL opened at $10.48 on Monday. Proficient Auto Logistics, Inc. has a 1-year low of $5.76 and a 1-year high of $11.37. The stock has a fifty day simple moving average of $9.89 and a 200 day simple moving average of $8.11. The firm has a market capitalization of $291.66 million, a price-to-earnings ratio of -524.00, a price-to-earnings-growth ratio of 2.10 and a beta of 2.17. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.17.

Wall Street Analysts Forecast Growth

PAL has been the topic of a number of recent analyst reports. Barrington Research restated an “outperform” rating and set a $12.00 price objective on shares of Proficient Auto Logistics in a research note on Friday, January 23rd. Stifel Nicolaus boosted 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Proficient Auto Logistics currently has a consensus rating of “Hold” and an average price target of $12.00.

Insider Buying and Selling

In other news, Director John Skiadas sold 18,270 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $7.27, for a total value of $132,822.90. Following the completion of the sale, the director directly owned 1,852,597 shares of the company’s stock, valued at $13,468,380.19. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 75,000 shares of company stock worth $548,429. Company insiders own 13.90% of the company’s stock.

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.