Forward Air Co. (NASDAQ:FWRD) Stock Position Lowered by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. decreased its holdings in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 81.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,111 shares of the transportation company's stock after selling 89,089 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.07% of Forward Air worth $649,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in shares of Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after purchasing an additional 715 shares during the last quarter. Byrne Asset Management LLC boosted its position in Forward Air by 122.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after purchasing an additional 590 shares during the period. Public Employees Retirement System of Ohio bought a new position in Forward Air during the 4th quarter worth $72,000. AlphaQuest LLC increased its position in Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock worth $94,000 after buying an additional 1,782 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in Forward Air in the fourth quarter worth $138,000. Institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on FWRD. Susquehanna reduced their price target 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. Stifel Nicolaus reduced their target price on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Finally, Robert W. Baird decreased 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.25.

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.