AlpInvest Partners B.V. Acquires Shares of 103,330 Forward Air Corporation $FWRD

Key Points

• AlpInvest Partners B.V. acquired 103,330 Forward Air shares during the second quarter, valued at approximately $1.4 million. The position represents about 0.33% of Forward Air and 2.3% of AlpInvest’s portfolio.
• Institutional ownership remains high at 97.03%, with several other investors initiating or significantly increasing positions in the transportation company.
• Analyst sentiment is generally positive: Forward Air has a “Moderate Buy” consensus rating and an average price target of $28, compared with shares opening at $19.18.

AlpInvest Partners B.V. acquired a new stake in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,330 shares of the transportation company's stock, valued at approximately $1,396,000. Forward Air comprises about 2.3% of AlpInvest Partners B.V.'s portfolio, making the stock its 11th largest holding. AlpInvest Partners B.V. owned about 0.33% of Forward Air as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Garton & Associates Financial Advisors LLC bought a new position in shares of Forward Air in the 4th quarter worth approximately $36,000. Allied Private Wealth LLC purchased a new stake in Forward Air in the second quarter worth $57,000. Tower Research Capital LLC TRC grew its stake in Forward Air by 207.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company's stock worth $64,000 after purchasing an additional 1,753 shares during the period. Kestra Advisory Services LLC bought a new position in Forward Air in the fourth quarter worth $74,000. Finally, Fifth Third Bancorp raised its holdings in Forward Air by 2,397.7% in the first quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company's stock worth $92,000 after purchasing an additional 5,275 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Stock Down 0.7%

Shares of Forward Air stock opened at $19.18 on Wednesday. The company has a market cap of $606.47 million, a price-to-earnings ratio of -2.16 and a beta of 1.36. The company's 50 day moving average is $14.80 and its 200 day moving average is $17.48. Forward Air Corporation has a twelve month low of $7.86 and a twelve month high of $32.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FWRD. Stifel Nicolaus upped their price objective on shares of Forward Air from $19.00 to $27.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Forward Air from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Weiss Ratings raised Forward Air from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Susquehanna upped their price target on Forward Air from $18.00 to $29.00 and gave the stock a "positive" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Forward Air has an average rating of "Moderate Buy" and an average price target of $28.00.

Forward Air Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.

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