Ancora Advisors LLC Sells 170,616 Shares of Forward Air Co. (NASDAQ:FWRD)

Ancora Advisors LLC cut its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 954,890 shares of the transportation company's stock after selling 170,616 shares during the quarter. Ancora Advisors LLC owned approximately 3.30% of Forward Air worth $30,795,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Forward Air by 688.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock worth $11,573,000 after buying an additional 285,465 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Forward Air in the fourth quarter worth about $815,000. Principal Financial Group Inc. lifted its stake in Forward Air by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock valued at $3,133,000 after acquiring an additional 6,629 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Forward Air in the 4th quarter worth about $11,140,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Forward Air by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after purchasing an additional 79,960 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FWRD shares. Stifel Nicolaus lowered their price objective on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Susquehanna reduced their price target on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research note on Monday, March 31st. Finally, Robert W. Baird lowered their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. 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 stock. Based on data from MarketBeat.com, Forward Air currently has a consensus rating of "Hold" and a consensus target price of $32.25.

Forward Air Price Performance

Shares of NASDAQ FWRD traded up $1.07 during midday trading on Thursday, reaching $18.30. The stock had a trading volume of 751,538 shares, compared to its average volume of 884,187. The stock has a 50-day moving average of $17.32 and a 200-day moving average of $27.63. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a 12-month low of $9.79 and a 12-month high of $40.92. The company has a market capitalization of $556.48 million, a price-to-earnings ratio of -0.77 and a beta of 1.24.

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.