GAMMA Investing LLC Acquires 42,914 Shares of Forward Air Corporation (NASDAQ:FWRD)

GAMMA Investing LLC lifted its holdings in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) by 1,194.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,508 shares of the transportation company's stock after buying an additional 42,914 shares during the quarter. GAMMA Investing LLC owned about 0.15% of Forward Air worth $934,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sterling Capital Management LLC lifted its stake in shares of Forward Air by 812.5% in the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after purchasing an additional 715 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Forward Air during the 4th quarter worth about $72,000. AlphaQuest LLC increased its stake in shares of Forward Air by 155.9% in the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after acquiring an additional 1,782 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Forward Air in the 4th quarter valued at about $138,000. Finally, Quantinno Capital Management LP raised its position in shares of Forward Air by 9.7% in the 4th quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company's stock valued at $224,000 after acquiring an additional 615 shares during the period. 97.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FWRD shares. Stifel Nicolaus cut their target price on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Susquehanna dropped their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research note on Monday, March 31st. Finally, Robert W. Baird reduced 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. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Forward Air presently has an average rating of "Hold" and an average price target of $32.25.

Forward Air Stock Up 1.7%

Shares of FWRD stock traded up $0.38 during trading hours on Friday, hitting $22.51. 331,713 shares of the company were exchanged, compared to its average volume of 746,987. Forward Air Corporation has a 52 week low of $9.79 and a 52 week high of $40.92. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 7.55. The business has a 50 day moving average of $17.48 and a two-hundred day moving average of $23.94. The company has a market capitalization of $684.85 million, a PE ratio of -0.77 and a beta of 1.29.

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.