P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) Cut to Hold at ValuEngine

ValuEngine cut shares of P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) from a buy rating to a hold rating in a research note released on Tuesday, August 1st.

Separately, Zacks Investment Research raised P.A.M. Transportation Services from a sell rating to a hold rating in a research note on Saturday, May 6th.

Shares of P.A.M. Transportation Services (NASDAQ PTSI) traded up 2.26% during mid-day trading on Tuesday, reaching $17.65. The company’s stock had a trading volume of 4,352 shares. P.A.M. Transportation Services has a 12 month low of $14.50 and a 12 month high of $28.43. The company has a 50-day moving average of $17.95 and a 200-day moving average of $17.93. The firm has a market cap of $111.94 million, a PE ratio of 14.02 and a beta of 1.01.

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P.A.M. Transportation Services announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 2nd that authorizes the company to buyback 500,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. acquired a new position in shares of P.A.M. Transportation Services during the second quarter valued at about $482,000. Dimensional Fund Advisors LP raised its position in shares of P.A.M. Transportation Services by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 360,772 shares of the transportation company’s stock valued at $6,837,000 after buying an additional 15,014 shares during the period. Pacific Ridge Capital Partners LLC raised its position in shares of P.A.M. Transportation Services by 21.4% in the second quarter. Pacific Ridge Capital Partners LLC now owns 174,921 shares of the transportation company’s stock valued at $3,315,000 after buying an additional 30,780 shares during the period. Horrell Capital Management Inc. raised its position in shares of P.A.M. Transportation Services by 2.5% in the second quarter. Horrell Capital Management Inc. now owns 27,941 shares of the transportation company’s stock valued at $529,000 after buying an additional 681 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of P.A.M. Transportation Services by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 20,698 shares of the transportation company’s stock valued at $338,000 after buying an additional 349 shares during the period. Institutional investors and hedge funds own 28.24% of the company’s stock.

P.A.M. Transportation Services Company Profile

P.A.M. Transportation Services, Inc is a holding company. The Company, through its subsidiaries, operates as a truckload transportation and logistics company. It operates in the motor carrier segment. It operates as a truckload dry van carrier transporting general commodities throughout the continental United States, as well as in certain Canadian provinces.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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