Forward Air Co. (NASDAQ:FWRD) Stake Boosted by Point72 Asset Management L.P.

Point72 Asset Management L.P. grew its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 742.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 463,600 shares of the transportation company's stock after purchasing an additional 408,600 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.60% of Forward Air worth $14,951,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in shares of Forward Air by 2.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company's stock worth $498,000 after buying an additional 432 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Forward Air by 4.1% in 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 period. 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 valued at $460,000 after buying an additional 498 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Forward Air by 5.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company's stock valued at $313,000 after purchasing an additional 500 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Forward Air by 0.6% during the 4th quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock valued at $3,335,000 after buying an additional 572 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Stock Down 4.6%

NASDAQ FWRD traded down $0.79 on Friday, hitting $16.50. 136,701 shares of the stock were exchanged, compared to its average volume of 815,783. Forward Air Co. has a fifty-two week low of $9.79 and a fifty-two week high of $40.92. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a market cap of $501.98 million, a PE ratio of -0.69 and a beta of 1.24. The company has a 50-day moving average price of $16.91 and a 200-day moving average price of $26.23.

Analyst Upgrades and Downgrades

FWRD has been the subject of a number of recent research reports. Robert W. Baird reduced their target price on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Susquehanna cut their price objective on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Finally, Stifel Nicolaus lowered their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.25.

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.