Quantbot Technologies LP Invests $1.29 Million in Forward Air Corporation $FWRD

Key Points

• Quantbot Technologies LP acquired 95,873 Forward Air shares worth approximately $1.29 million, representing about 0.30% of the company. Institutional investors collectively own 97.03% of FWRD.
• Analyst sentiment improved overall, with Stifel Nicolaus and Susquehanna raising price targets to $27 and $29, respectively. Forward Air carries a consensus “Moderate Buy” rating and a $28 price target.
• Forward Air shares opened at $17.41, while the company reported a market capitalization of about $550.5 million and a highly leveraged debt-to-equity ratio of 13.98.

Quantbot Technologies LP purchased a new position in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 95,873 shares of the transportation company's stock, valued at approximately $1,295,000. Quantbot Technologies LP owned about 0.30% of Forward Air as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Forward Air in the second quarter valued at about $37,485,000. Deutsche Bank AG bought a new stake in shares of Forward Air in the 2nd quarter worth approximately $8,293,000. Melqart Asset Management UK Ltd lifted its stake in Forward Air by 122.3% in the fourth quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company's stock valued at $21,247,000 after purchasing an additional 467,482 shares during the last quarter. Royal Bank of Canada grew its holdings in Forward Air by 1,179.7% during the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company's stock valued at $6,451,000 after purchasing an additional 296,001 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in Forward Air in the second quarter worth $2,987,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Ratings Changes

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

Forward Air Stock Down 0.9%

Shares of NASDAQ:FWRD opened at $17.41 on Wednesday. The firm has a fifty day moving average price of $15.28 and a two-hundred day moving average price of $17.10. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32. Forward Air Corporation has a one year low of $7.86 and a one year high of $32.00. The company has a market cap of $550.50 million, a price-to-earnings ratio of -1.96 and a beta of 1.36.

Forward Air Company Profile

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.

Want to see what other hedge funds are holding FWRD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Forward Air Corporation (NASDAQ:FWRD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.