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

Millennium Management LLC decreased its position in Forward Air Co. (NASDAQ:FWRD - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,522 shares of the transportation company's stock after selling 112,169 shares during the quarter. Millennium Management LLC owned approximately 0.71% of Forward Air worth $6,596,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of Forward Air by 2.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company's stock valued at $498,000 after acquiring an additional 432 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Forward Air by 4.1% during the fourth quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company's stock valued at $366,000 after acquiring an additional 447 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 valued at $460,000 after acquiring an additional 498 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Forward Air by 5.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company's stock valued at $313,000 after acquiring an additional 500 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Forward Air by 0.6% during the fourth quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock valued at $3,335,000 after acquiring an additional 572 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on FWRD shares. Susquehanna decreased 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. Robert W. Baird decreased their price target on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their price target on Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. One equities 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.com, the company presently has an average rating of "Hold" and an average price target of $32.25.

Forward Air Stock Performance

Shares of Forward Air stock traded down $0.53 during trading hours on Friday, reaching $16.52. The company had a trading volume of 473,760 shares, compared to its average volume of 785,450. Forward Air Co. has a one year low of $9.79 and a one year high of $40.92. The business has a fifty day simple moving average of $16.39 and a 200 day simple moving average of $25.29. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $502.59 million, a PE ratio of -0.69 and a beta of 1.24.

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.