Canada Pension Plan Investment Board Sells 31,300 Shares of Forward Air Co. (NASDAQ:FWRD)

Canada Pension Plan Investment Board cut its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 94.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the transportation company's stock after selling 31,300 shares during the quarter. Canada Pension Plan Investment Board's holdings in Forward Air were worth $64,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake 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 valued at $26,000 after acquiring an additional 715 shares during the last quarter. Byrne Asset Management LLC raised its stake in shares of Forward Air by 122.9% in the 4th 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 boosted 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 period. KLP Kapitalforvaltning AS purchased a new position in Forward Air in the fourth quarter valued at about $235,000. Finally, Polymer Capital Management US LLC acquired a new stake in shares of Forward Air in the fourth quarter valued at about $254,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Stock Up 4.3 %

Shares of NASDAQ FWRD traded up $0.72 during mid-day trading on Friday, reaching $17.51. 234,530 shares of the company traded hands, compared to its average volume of 879,977. The company's fifty day moving average is $17.91 and its two-hundred day moving average is $28.22. Forward Air Co. has a fifty-two week low of $9.79 and a fifty-two week high of $40.92. 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 $532.48 million, a PE ratio of -0.74 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Benchmark reiterated a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. Susquehanna decreased 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. Robert W. Baird lowered their target price on 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 decreased their price target on shares of 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.