PDT Partners LLC Invests $1.97 Million in Forward Air Corporation $FWRD

Key Points

• PDT Partners LLC acquired 146,107 shares of Forward Air worth approximately $1.97 million, representing a 0.46% stake. Institutional investors and hedge funds collectively own 97.03% of the company.
• Forward Air shares opened at $17.63, up 1.3%, with a 52-week range of $7.86 to $32.00. The company carries a high debt-to-equity ratio of 13.98 and reported a market capitalization of roughly $557 million.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and a $28 average price target, although one analyst maintains a Sell rating.

PDT Partners LLC bought a new stake in Forward Air Corporation (NASDAQ:FWRD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 146,107 shares of the transportation company's stock, valued at approximately $1,974,000. PDT Partners LLC owned 0.46% of Forward Air at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Forward Air by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company's stock valued at $299,000 after buying an additional 624 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company's stock worth $201,000 after acquiring an additional 654 shares during the last quarter. LPL Financial LLC lifted its position in Forward Air by 1.5% in the 4th quarter. LPL Financial LLC now owns 43,228 shares of the transportation company's stock valued at $1,081,000 after acquiring an additional 655 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Forward Air by 5.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company's stock valued at $379,000 after acquiring an additional 762 shares in the last quarter. Finally, Logan Capital Management Inc. lifted its position in Forward Air by 11.7% in the 3rd quarter. Logan Capital Management Inc. now owns 7,575 shares of the transportation company's stock valued at $194,000 after acquiring an additional 791 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Stock Up 1.3%

Shares of NASDAQ:FWRD opened at $17.63 on Thursday. Forward Air Corporation has a 1 year low of $7.86 and a 1 year high of $32.00. The company has a market capitalization of $557.46 million, a PE ratio of -1.98 and a beta of 1.36. The business has a fifty day moving average price of $15.36 and a two-hundred day moving average price of $17.03. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32.

Analysts Set New Price Targets

FWRD has been the subject of several analyst reports. Susquehanna increased their price objective on Forward Air from $18.00 to $29.00 and gave the stock a "positive" rating in a research note on Thursday, August 13th. Zacks Research upgraded Forward Air from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 5th. Wall Street Zen raised Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Stifel Nicolaus raised their price objective on Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Forward Air from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $28.00.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.

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