Short Interest in P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) Declines By 18.5%

P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 34,700 shares, a decline of 18.5% from the October 15th total of 42,600 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 23,600 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On P.A.M. Transportation Services

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in P.A.M. Transportation Services by 38.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,986 shares of the transportation company’s stock valued at $48,000 after acquiring an additional 837 shares during the last quarter. Vanguard Group Inc. grew its position in P.A.M. Transportation Services by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 342,117 shares of the transportation company’s stock valued at $5,546,000 after acquiring an additional 2,808 shares during the last quarter. Empowered Funds LLC grew its position in P.A.M. Transportation Services by 15.8% in the 1st quarter. Empowered Funds LLC now owns 54,416 shares of the transportation company’s stock valued at $882,000 after acquiring an additional 7,442 shares during the last quarter. Quadrature Capital Ltd bought a new position in P.A.M. Transportation Services in the 1st quarter valued at $307,000. Finally, Bank of New York Mellon Corp grew its position in P.A.M. Transportation Services by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 54,345 shares of the transportation company’s stock valued at $944,000 after acquiring an additional 701 shares during the last quarter. Institutional investors own 22.06% of the company’s stock.

P.A.M. Transportation Services Price Performance

P.A.M. Transportation Services has a twelve month low of $13.51 and a twelve month high of $22.88. The business has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $17.38. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.78 and a current ratio of 1.80.

P.A.M. Transportation Services (NASDAQ:PTSI) last issued its quarterly earnings data on Thursday, October 24th. The transportation company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. The business had revenue of $182.58 million for the quarter. P.A.M. Transportation Services had a negative return on equity of 0.79% and a negative net margin of 0.34%. As a group, equities research analysts expect that P.A.M. Transportation Services will post 0.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PTSI shares. Stephens lowered their price target on P.A.M. Transportation Services from $22.00 to $19.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. StockNews.com cut P.A.M. Transportation Services from a “buy” rating to a “hold” rating in a report on Thursday, November 7th.

P.A.M. Transportation Services Company Profile

P.A.M. Transportation Services, Inc, through its subsidiaries, operates as a truckload transportation and logistics company in the United States, Mexico, and Canada. The company operates a truckload dry van carrier that transports general commodities, such as automotive parts; expedited goods; consumer goods, such as general retail store merchandise; and manufactured goods, including heating and air conditioning units.