Brevan Howard Capital Management LP Grows Position in Forward Air Co. (NASDAQ:FWRD)

Brevan Howard Capital Management LP increased its position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 1,355.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 250,000 shares of the transportation company's stock after buying an additional 232,818 shares during the quarter. Brevan Howard Capital Management LP owned about 0.86% of Forward Air worth $8,062,000 at the end of the most recent reporting period.

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

Forward Air Price Performance

FWRD stock traded down $0.91 during midday trading on Friday, hitting $16.36. 725,039 shares of the stock were exchanged, compared to its average volume of 869,277. The stock's 50-day moving average price is $17.10 and its 200-day moving average price is $27.34. 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 $497.49 million, a price-to-earnings ratio of -0.69 and a beta of 1.24. Forward Air Co. has a fifty-two week low of $9.79 and a fifty-two week high of $40.92.

Analyst Ratings Changes

FWRD has been the topic of a number of recent research reports. Susquehanna dropped their target price on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a report on Monday, March 31st. Robert W. Baird lowered their target price on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus reduced 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 report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $32.25.

About Forward Air

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.