Forward Air Co. (NASDAQ:FWRD) Stake Trimmed by Alta Fox Capital Management LLC

Alta Fox Capital Management LLC trimmed its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 692,144 shares of the transportation company's stock after selling 104,948 shares during the quarter. Forward Air accounts for approximately 8.0% of Alta Fox Capital Management LLC's investment portfolio, making the stock its 6th biggest holding. Alta Fox Capital Management LLC owned 2.39% of Forward Air worth $22,322,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its position in shares of Forward Air by 812.5% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after buying an additional 715 shares in the last quarter. Byrne Asset Management LLC grew its stake in Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after acquiring an additional 590 shares during the period. AlphaQuest LLC increased its holdings in Forward Air by 155.9% in the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock worth $94,000 after acquiring an additional 1,782 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Forward Air during the fourth quarter worth $138,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Forward Air during the fourth quarter valued at $235,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Trading Up 6.2 %

Shares of Forward Air stock traded up $1.07 during trading hours on Thursday, hitting $18.30. The company's stock had a trading volume of 751,538 shares, compared to its average volume of 884,271. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $556.48 million, a price-to-earnings ratio of -0.77 and a beta of 1.24. The firm has a fifty day moving average of $17.32 and a 200-day moving average of $27.63. Forward Air Co. has a twelve month low of $9.79 and a twelve month high of $40.92.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price target on Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, Susquehanna decreased their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Forward Air has an average rating of "Hold" and a consensus target price of $32.25.

Forward Air Company Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.