Diamond Hill Capital Management LLC Investment Advisor Invests $7.32 Million in Proficient Auto Logistics, Inc. $PAL

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Proficient Auto Logistics, Inc. (NASDAQ:PAL) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,075,230 shares of the company’s stock, valued at approximately $7,322,000.

Several other large investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its holdings in shares of Proficient Auto Logistics by 1,237.9% in the first quarter. Empowered Funds LLC now owns 219,169 shares of the company’s stock worth $1,486,000 after acquiring an additional 202,788 shares in the last quarter. Royce & Associates LP bought a new position in shares of Proficient Auto Logistics during the 4th quarter valued at about $5,835,000. Brightlight Capital Management LP lifted its holdings in shares of Proficient Auto Logistics by 23.7% during the 4th quarter. Brightlight Capital Management LP now owns 358,700 shares of the company’s stock valued at $3,458,000 after purchasing an additional 68,623 shares in the last quarter. 4D Advisors LLC acquired a new position in shares of Proficient Auto Logistics in the 4th quarter valued at approximately $1,928,000. Finally, Liberty Square Wealth Partners LLC bought a new stake in Proficient Auto Logistics during the 1st quarter worth approximately $422,000.

Proficient Auto Logistics Price Performance

Shares of PAL opened at $5.89 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $6.99 and its 200 day simple moving average is $6.96. Proficient Auto Logistics, Inc. has a 1-year low of $4.85 and a 1-year high of $10.97. The company has a market cap of $163.57 million, a price-to-earnings ratio of -4.18 and a beta of 1.25.

Insider Activity at Proficient Auto Logistics

In other Proficient Auto Logistics news, Director Rohit Lal purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $5.43 per share, for a total transaction of $217,200.00. Following the purchase, the director owned 61,903 shares in the company, valued at approximately $336,133.29. The trade was a 182.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 54,995 shares of company stock worth $300,222. Insiders own 14.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PAL has been the topic of a number of research analyst reports. Zacks Research lowered shares of Proficient Auto Logistics from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Barrington Research set a $12.00 target price on shares of Proficient Auto Logistics in a research note on Tuesday, August 11th. Stifel Nicolaus upped their target price on shares of Proficient Auto Logistics from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Proficient Auto Logistics from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings downgraded Proficient Auto Logistics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.00.

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