Allianz Asset Management GmbH Buys 72,710 Shares of Forward Air Corporation (NASDAQ:FWRD)

Allianz Asset Management GmbH lifted its holdings in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) by 46.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,227 shares of the transportation company's stock after purchasing an additional 72,710 shares during the period. Allianz Asset Management GmbH owned about 0.75% of Forward Air worth $4,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Thrivent Financial for Lutherans raised its stake in shares of Forward Air by 2.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company's stock worth $498,000 after purchasing an additional 432 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Forward Air by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,251 shares of the transportation company's stock worth $460,000 after purchasing an additional 498 shares during the period. Federated Hermes Inc. raised its stake in shares of Forward Air by 0.6% during the 4th quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock worth $3,335,000 after purchasing an additional 572 shares during the period. Quantinno Capital Management LP raised its stake 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 worth $224,000 after purchasing an additional 615 shares during the period. Finally, Sterling Capital Management LLC raised 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 worth $26,000 after purchasing an additional 715 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Forward Air Stock Performance

FWRD traded down $1.46 during trading hours on Friday, hitting $28.93. The stock had a trading volume of 474,468 shares, compared to its average volume of 657,702. The company's fifty day simple moving average is $23.90 and its 200 day simple moving average is $22.91. Forward Air Corporation has a 1 year low of $9.78 and a 1 year high of $40.92. The stock has a market cap of $880.17 million, a PE ratio of -1.00 and a beta of 1.41. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.55.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FWRD. Stifel Nicolaus lifted their target price on Forward Air from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.00.

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.