U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
JACKSONVILLE, FL—Amy F. Rice, President and Chief Operating Officer of Proficient Auto Logistics , Inc. (NASDAQ:PAL), recently acquired 500 shares of the company’s common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on February 27, 2025, was valued at $5,000, with each share purchased at a price of $10.00. The purchase comes as PAL’s stock trades near $10.34, down 42% over the past six months, though InvestingPro analysis indicates the stock is currently undervalued.
This acquisition adds to Rice’s direct ownership in the company, bringing her total holdings to 500 shares. Additionally, the filing also disclosed that Rice holds 64,666 restricted stock units, which are set to vest in equal installments on August 14 of 2025, 2026, and 2027. These units will convert into common stock on a one-to-one basis upon vesting. Track insider transactions and access comprehensive analysis with InvestingPro, which offers detailed insights for over 1,400 US stocks.
Proficient Auto Logistics, based in Jacksonville, Florida, operates within the transportation services sector and continues to expand its operations under the leadership of its executive team. The company, with a market capitalization of $277 million and annual revenue of $147 million, is expected to return to profitability this year according to analyst forecasts.
In other recent news, Proficient Auto Logistics Inc. reported its fourth-quarter 2024 earnings, which fell short of expectations. The company posted an earnings per share (EPS) of $0.02, significantly below the forecasted $0.36. Despite this, the company’s revenue for the quarter was $95.1 million, reflecting a 4% increase from the previous quarter but a 15.9% decline compared to the same period last year. Analysts from Stifel and Raymond (NSE:RYMD) James have taken note of the company’s focus on operational efficiencies and strategic investments in technology to combat challenging market conditions.
The company is also considering capital expenditures of $25-35 million for 2025 and is exploring 1-2 smaller acquisitions to strengthen its market position. During the earnings call, Proficient Auto Logistics highlighted ongoing inflationary pressures and competitive challenges that could impact profitability. The company is leveraging technology to enhance operational efficiency and maintain competitiveness amid these disruptions. Looking ahead, the company anticipates that the first quarter of 2025 will mirror the fourth quarter of 2024, with expectations for sequential growth in the subsequent quarters.
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