Susquehanna Fundamental Investments LLC Invests $846,000 in Forward Air Corporation $FWRD

Key Points

• Susquehanna Fundamental Investments acquired 62,615 Forward Air shares worth approximately $846,000, representing about 0.20% of the company. Institutional investors collectively own 97.03% of FWRD.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $28.00; Stifel and Susquehanna recently raised their targets to $27 and $29, respectively.
• Forward Air shares opened at $15.98, down 2.4%, with a market capitalization of approximately $505 million and a 52-week trading range of $7.86 to $31.30.

Susquehanna Fundamental Investments LLC purchased a new stake in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 62,615 shares of the transportation company's stock, valued at approximately $846,000. Susquehanna Fundamental Investments LLC owned about 0.20% of Forward Air as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Forward Air in the second quarter valued at about $37,485,000. Cibc World Market Inc. bought a new stake in shares of Forward Air in the second quarter worth about $14,485,000. Deutsche Bank AG bought a new stake in shares of Forward Air in the second quarter worth about $8,293,000. Melqart Asset Management UK Ltd raised its position in Forward Air by 122.3% during the 4th 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. Finally, Royal Bank of Canada lifted its holdings in Forward Air by 1,179.7% in the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company's stock worth $6,451,000 after buying an additional 296,001 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FWRD shares. Zacks Research raised Forward Air from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 5th. Stifel Nicolaus lifted their price target on shares of Forward Air from $19.00 to $27.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Forward Air from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Forward Air from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 21st. Finally, Susquehanna raised their target price on shares of Forward Air from $18.00 to $29.00 and gave the stock a "positive" rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Forward Air Stock Down 2.4%

Shares of NASDAQ:FWRD opened at $15.98 on Thursday. The firm has a market capitalization of $505.29 million, a P/E ratio of -1.80 and a beta of 1.38. The company has a debt-to-equity ratio of 13.98, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a 50 day moving average price of $15.70 and a 200-day moving average price of $16.58. Forward Air Corporation has a 52-week low of $7.86 and a 52-week high of $31.30.

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.

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