Millennium Management LLC Sells 112,169 Shares of Forward Air Co. (NASDAQ:FWRD)

Millennium Management LLC trimmed its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 35.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 204,522 shares of the transportation company's stock after selling 112,169 shares during the quarter. Millennium Management LLC owned 0.71% of Forward Air worth $6,596,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FWRD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Forward Air by 3.6% during the fourth 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 in the last quarter. Jefferies Financial Group Inc. boosted its holdings in shares of Forward Air by 148.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company's stock worth $9,213,000 after purchasing an additional 170,503 shares in the last quarter. Hudson Bay Capital Management LP boosted its holdings in shares of Forward Air by 149.8% in the 4th quarter. Hudson Bay Capital Management LP now owns 241,423 shares of the transportation company's stock worth $7,786,000 after purchasing an additional 144,764 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Forward Air by 32.7% in the 4th 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 in the last quarter. Finally, Corton Capital Inc. boosted its holdings in shares of Forward Air by 21.6% in the 4th quarter. Corton Capital Inc. now owns 12,484 shares of the transportation company's stock worth $403,000 after purchasing an additional 2,214 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FWRD shares. Stifel Nicolaus cut their price objective on Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Robert W. Baird cut their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Susquehanna cut their price objective on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $32.25.

Forward Air Trading Up 3.0%

FWRD stock traded up $0.49 during trading on Thursday, hitting $17.05. 323,504 shares of the company traded hands, compared to its average volume of 795,516. The firm has a market capitalization of $518.71 million, a PE ratio of -0.72 and a beta of 1.24. Forward Air Co. has a 1 year low of $9.79 and a 1 year high of $40.92. The company has a 50-day moving average of $16.48 and a 200-day moving average of $25.56. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

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.