Kintayl Capital LP Has $4.48 Million Position in Forward Air Corporation (NASDAQ:FWRD)

Kintayl Capital LP lifted its position in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) by 33.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,087 shares of the transportation company's stock after buying an additional 55,330 shares during the period. Forward Air comprises about 3.2% of Kintayl Capital LP's investment portfolio, making the stock its 14th largest holding. Kintayl Capital LP owned 0.73% of Forward Air worth $4,482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of FWRD. Charles Schwab Investment Management Inc. boosted its position in Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after purchasing an additional 79,960 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Forward Air by 742.9% during the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company's stock valued at $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 valued at $12,286,000 after purchasing 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 valued at $9,521,000 after purchasing an additional 43,567 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Forward Air by 7.8% during the first quarter. New York State Common Retirement Fund now owns 294,682 shares of the transportation company's stock valued at $5,920,000 after purchasing an additional 21,220 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FWRD shares. Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Stifel Nicolaus raised Forward Air from a "hold" rating to a "buy" rating and increased their price target for the company from $21.00 to $29.00 in a research report on Thursday, June 26th. Finally, Susquehanna reduced their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research report on Monday, March 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $34.00.

Forward Air Price Performance

Shares of NASDAQ FWRD traded down $0.49 during mid-day trading on Friday, hitting $26.81. 357,645 shares of the stock traded hands, compared to its average volume of 705,721. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 7.55. Forward Air Corporation has a twelve month low of $9.79 and a twelve month high of $40.92. The firm has a 50 day simple moving average of $21.74 and a two-hundred day simple moving average of $23.05.

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.