113,977 Shares in Forward Air Co. (NASDAQ:FWRD) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new stake in Forward Air Co. (NASDAQ:FWRD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 113,977 shares of the transportation company's stock, valued at approximately $3,676,000. Balyasny Asset Management L.P. owned 0.39% of Forward Air at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC boosted its stake 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 boosted its stake in shares of Forward Air by 122.9% in the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after buying an additional 590 shares in the last quarter. AlphaQuest LLC boosted its position in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock worth $94,000 after purchasing an additional 1,782 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in Forward Air during the fourth quarter worth $138,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Forward Air during the fourth quarter worth $235,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Robert W. Baird decreased their target price on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Susquehanna decreased their target price on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. Finally, Stifel Nicolaus decreased their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. 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. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $32.25.

Forward Air Price Performance

Shares of NASDAQ:FWRD traded up $0.29 on Friday, hitting $19.17. The company had a trading volume of 434,172 shares, compared to its average volume of 847,552. The business has a 50 day moving average of $17.04 and a 200 day moving average of $26.64. Forward Air Co. has a 52-week low of $9.79 and a 52-week high of $40.92. The company has a market cap of $583.21 million, a PE ratio of -0.80 and a beta of 1.24. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07.

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.