SG Americas Securities LLC Buys New Shares in Forward Air Corporation (NASDAQ:FWRD)

SG Americas Securities LLC purchased a new stake in Forward Air Corporation (NASDAQ:FWRD - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 136,898 shares of the transportation company's stock, valued at approximately $2,750,000. SG Americas Securities LLC owned approximately 0.45% of Forward Air at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Forward Air by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock worth $24,376,000 after acquiring an additional 79,960 shares during the period. Point72 Asset Management L.P. lifted its stake in Forward Air by 742.9% during the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company's stock worth $14,951,000 after purchasing an additional 408,600 shares during the last quarter. Penn Capital Management Company LLC lifted its stake in Forward Air by 17.9% during the fourth quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company's stock worth $12,286,000 after purchasing an additional 57,854 shares during the last quarter. Northern Trust Corp increased its stake in shares of Forward Air by 17.3% in the 4th quarter. Northern Trust Corp now owns 295,226 shares of the transportation company's stock valued at $9,521,000 after purchasing an additional 43,567 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Forward Air by 148.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company's stock worth $9,213,000 after buying an additional 170,503 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Trading Down 3.5%

Forward Air stock traded down $0.81 during trading hours on Wednesday, hitting $22.07. The stock had a trading volume of 284,017 shares, compared to its average volume of 748,169. The business's 50 day simple moving average is $17.14 and its 200-day simple moving average is $24.05. Forward Air Corporation has a one year low of $9.79 and a one year high of $40.92. The stock has a market cap of $671.37 million, a price-to-earnings ratio of -0.76 and a beta of 1.29. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.55.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FWRD. Robert W. Baird reduced their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Susquehanna reduced their price target 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. Finally, Stifel Nicolaus lowered their price objective on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.