Polar Asset Management Partners Inc. Cuts Stake in Forward Air Co. (NASDAQ:FWRD)

Polar Asset Management Partners Inc. lessened its position in Forward Air Co. (NASDAQ:FWRD - Free Report) by 81.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,111 shares of the transportation company's stock after selling 89,089 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.07% of Forward Air worth $649,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue grew its position in Forward Air by 4.1% during the 4th quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company's stock worth $366,000 after purchasing an additional 447 shares in the last quarter. Byrne Asset Management LLC grew its stake in Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after buying an additional 590 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Forward Air by 5.4% in the fourth 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 during the last quarter. Legato Capital Management LLC acquired a new stake in Forward Air in the 4th quarter worth $745,000. Finally, Principal Financial Group Inc. grew its position in Forward Air by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock worth $3,133,000 after buying an additional 6,629 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Susquehanna decreased their price objective on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research note on Monday, March 31st. Robert W. Baird cut their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, Stifel Nicolaus dropped their target price on shares of 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, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $32.25.

Forward Air Price Performance

Forward Air stock traded down $0.53 during mid-day trading on Friday, reaching $16.52. The company had a trading volume of 473,760 shares, compared to its average volume of 785,450. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. 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 market cap of $502.59 million, a P/E ratio of -0.69 and a beta of 1.24. The business has a fifty day simple moving average of $16.39 and a 200 day simple moving average of $25.29.

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.