Ancora Advisors LLC Has $30.80 Million Stock Position in Forward Air Co. (NASDAQ:FWRD)

Ancora Advisors LLC lowered its position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 954,890 shares of the transportation company's stock after selling 170,616 shares during the quarter. Ancora Advisors LLC owned 3.30% of Forward Air worth $30,795,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Anson Funds Management LP bought a new position in shares of Forward Air in the fourth quarter valued at $322,000. Northern Trust Corp grew its position in shares of Forward Air by 17.3% in the 4th quarter. Northern Trust Corp now owns 295,226 shares of the transportation company's stock valued at $9,521,000 after acquiring an additional 43,567 shares during the period. Aquatic Capital Management LLC acquired a new position in shares of Forward Air during the 4th quarter worth about $138,000. Boothbay Fund Management LLC bought a new stake in shares of Forward Air in the 4th quarter valued at about $443,000. Finally, Penn Capital Management Company LLC lifted its stake in Forward Air by 17.9% in the 4th quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company's stock valued at $12,286,000 after purchasing an additional 57,854 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Forward Air Price Performance

Forward Air stock traded up $0.48 during trading hours on Wednesday, reaching $17.23. 685,044 shares of the stock were exchanged, compared to its average volume of 883,522. The stock has a 50 day moving average of $17.43 and a two-hundred day moving average of $27.71. Forward Air Co. has a twelve month low of $9.79 and a twelve month high of $40.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a market cap of $523.95 million, a P/E ratio of -0.72 and a beta of 1.24.

Forward Air (NASDAQ:FWRD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The transportation company reported ($1.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.26). Forward Air had a negative return on equity of 98.80% and a negative net margin of 31.14%. Equities analysts expect that Forward Air Co. will post -0.72 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on FWRD shares. Susquehanna dropped their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research note on Monday, March 31st. Robert W. Baird reduced their price target on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus dropped their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Benchmark restated a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Forward Air has a consensus rating of "Hold" and a consensus price target of $32.25.

Forward Air 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.