Brevan Howard Capital Management LP Raises Holdings in Forward Air Co. (NASDAQ:FWRD)

Brevan Howard Capital Management LP lifted its holdings in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 1,355.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 250,000 shares of the transportation company's stock after buying an additional 232,818 shares during the period. 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 have also modified their holdings of FWRD. Charles Schwab Investment Management Inc. raised its position in Forward Air by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock worth $24,376,000 after acquiring an additional 79,960 shares in the last quarter. Penn Capital Management Company LLC increased its holdings in shares of 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 in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Forward Air in the fourth quarter valued at about $11,140,000. JPMorgan Chase & Co. boosted its holdings in Forward Air by 688.6% during the third 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in Forward Air by 17.3% during the fourth quarter. Northern Trust Corp now owns 295,226 shares of the transportation company's stock worth $9,521,000 after buying an additional 43,567 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FWRD shares. Robert W. Baird decreased their price target on 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 lowered their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Susquehanna cut their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's 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

Forward Air stock traded up $0.09 during midday trading on Thursday, reaching $17.32. 1,302,332 shares of the company were exchanged, compared to its average volume of 886,671. The company has a market capitalization of $526.74 million, a price-to-earnings ratio of -0.73 and a beta of 1.24. 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 firm's 50-day simple moving average is $17.22 and its 200-day simple moving average is $27.48. Forward Air Co. has a 1 year low of $9.79 and a 1 year high of $40.92.

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.