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

Polar Asset Management Partners Inc. lessened its stake in Forward Air Co. (NASDAQ:FWRD - Free Report) by 81.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 20,111 shares of the transportation company's stock after selling 89,089 shares during the period. Polar Asset Management Partners Inc. owned about 0.07% of Forward Air worth $649,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FWRD. Assenagon Asset Management S.A. acquired a new position in Forward Air in the 4th quarter valued at about $11,140,000. Sugar Maple Asset Management LLC boosted its position in Forward Air by 24.4% in the 4th quarter. Sugar Maple Asset Management LLC now owns 20,900 shares of the transportation company's stock valued at $674,000 after buying an additional 4,100 shares during the period. Inspire Investing LLC grew its stake in shares of Forward Air by 9.5% in the fourth quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company's stock worth $406,000 after acquiring an additional 1,088 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of 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 in the last quarter. Finally, Byrne Asset Management LLC boosted its holdings in Forward Air by 122.9% in the fourth 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. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Stock Performance

NASDAQ:FWRD traded down $1.53 during mid-day trading on Wednesday, reaching $16.51. 544,710 shares of the stock were exchanged, compared to its average volume of 823,050. The stock has a market capitalization of $502.28 million, a P/E ratio of -0.69 and a beta of 1.24. Forward Air Co. has a 1 year low of $9.79 and a 1 year high of $40.92. The company has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $26.41. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07.

Analyst Ratings Changes

A number of brokerages recently issued reports on FWRD. Stifel Nicolaus decreased their price target 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. Susquehanna lowered their price objective 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. Finally, Robert W. Baird decreased their target price on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price 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.