Caxton Associates LLP Takes Position in Forward Air Corporation $FWRD

Key Points

• Caxton Associates LLP invested approximately $960,000 in Forward Air Corporation, acquiring 47,768 shares in the first quarter, which represented a 0.16% stake in the company.
• The stock has seen a debt-to-equity ratio of 7.91 and a current market cap of $912.92 million, with shares currently trading around $29.65, despite reporting a loss of $0.41 per share in its latest earnings report.
• Analysts have a consensus rating of "Moderate Buy" for Forward Air, with a price target average of $37.75, following several price adjustments and ratings upgrades from various equities analysts.

Caxton Associates LLP bought a new position in Forward Air Corporation (NASDAQ:FWRD - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 47,768 shares of the transportation company's stock, valued at approximately $960,000. Caxton Associates LLP owned approximately 0.16% of Forward Air at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp lifted its stake 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 purchasing an additional 43,567 shares during the last quarter. Gotham Asset Management LLC raised its holdings in shares of Forward Air by 32.7% during the fourth quarter. Gotham Asset Management LLC now owns 46,196 shares of the transportation company's stock worth $1,490,000 after purchasing an additional 11,389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Forward Air by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company's stock worth $460,000 after buying an additional 498 shares during the last quarter. Numerai GP LLC acquired a new position in shares of Forward Air in the 4th quarter valued at about $1,012,000. Finally, Quantinno Capital Management LP grew its position in shares of Forward Air by 9.7% during the 4th quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company's stock valued at $224,000 after buying an additional 615 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Price Performance

Forward Air stock traded down $0.54 during midday trading on Friday, hitting $29.35. The company's stock had a trading volume of 386,146 shares, compared to its average volume of 486,334. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $40.92. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 7.91. The company has a market capitalization of $903.75 million, a PE ratio of -4.90 and a beta of 1.40. The stock's 50-day moving average price is $29.31 and its 200-day moving average price is $22.39.

Forward Air (NASDAQ:FWRD - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The transportation company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.24). Forward Air had a negative return on equity of 40.36% and a negative net margin of 6.86%.The business had revenue of $618.84 million during the quarter, compared to analyst estimates of $627.98 million. During the same period in the prior year, the firm earned ($23.29) EPS. The business's revenue for the quarter was down 3.9% on a year-over-year basis. Analysts anticipate that Forward Air Corporation will post -0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on FWRD. Susquehanna raised their target price on shares of Forward Air from $40.00 to $43.00 and gave the stock a "positive" rating in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Stifel Nicolaus boosted their price objective on Forward Air from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Forward Air has an average rating of "Moderate Buy" and an average price target of $37.75.

Forward Air 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.