Two Sigma Advisers LP Lowers Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Two Sigma Advisers LP decreased its stake in Forward Air Co. (NASDAQ:FWRD - Free Report) by 64.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,300 shares of the transportation company's stock after selling 78,700 shares during the quarter. Two Sigma Advisers LP owned approximately 0.15% of Forward Air worth $1,396,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 during the last quarter. Point72 Asset Management L.P. boosted its stake in Forward Air by 742.9% during the 4th quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company's stock worth $14,951,000 after purchasing an additional 408,600 shares during the last quarter. Penn Capital Management Company LLC boosted its position in Forward Air by 17.9% during the fourth quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company's stock worth $12,286,000 after acquiring an additional 57,854 shares during the last quarter. Northern Trust Corp boosted its position 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 acquiring an additional 43,567 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its position in Forward Air by 148.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company's stock worth $9,213,000 after acquiring an additional 170,503 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Price Performance

NASDAQ:FWRD traded up $1.10 during mid-day trading on Tuesday, hitting $17.86. 248,739 shares of the company's stock traded hands, compared to its average volume of 781,755. 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 $16.31 and its 200 day simple moving average is $25.16. Forward Air Co. has a 1 year low of $9.79 and a 1 year high of $40.92. The company has a market cap of $543.35 million, a PE ratio of -0.75 and a beta of 1.29.

Wall Street Analyst Weigh In

FWRD has been the topic of several recent research reports. 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. Susquehanna decreased their target price on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research report on Monday, March 31st. Finally, Robert W. Baird decreased their target price 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.25.

Forward Air Company 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.