XTX Topco Ltd Makes New Investment in Forward Air Corporation (NASDAQ:FWRD)

XTX Topco Ltd purchased a new position in shares of Forward Air Corporation (NASDAQ:FWRD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,932 shares of the transportation company's stock, valued at approximately $481,000. XTX Topco Ltd owned 0.08% of Forward Air as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH lifted its position in Forward Air by 46.5% during the 1st quarter. Allianz Asset Management GmbH now owns 229,227 shares of the transportation company's stock worth $4,605,000 after acquiring an additional 72,710 shares during the period. Kintayl Capital LP raised its stake in shares of Forward Air by 33.0% during the 1st quarter. Kintayl Capital LP now owns 223,087 shares of the transportation company's stock valued at $4,482,000 after buying an additional 55,330 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Forward Air by 7.8% during the 1st quarter. New York State Common Retirement Fund now owns 294,682 shares of the transportation company's stock valued at $5,920,000 after buying an additional 21,220 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Forward Air by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 99,821 shares of the transportation company's stock valued at $2,005,000 after buying an additional 2,673 shares during the last quarter. Finally, Byrne Asset Management LLC raised its stake in shares of Forward Air by 81.3% during the 1st quarter. Byrne Asset Management LLC now owns 1,940 shares of the transportation company's stock valued at $39,000 after buying an additional 870 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Price Performance

Shares of Forward Air stock opened at $29.68 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 7.55. Forward Air Corporation has a twelve month low of $9.78 and a twelve month high of $40.92. The business has a 50-day moving average price of $25.18 and a 200 day moving average price of $22.77. The firm has a market cap of $902.87 million, a PE ratio of -1.02 and a beta of 1.43.

Analyst Ratings Changes

FWRD has been the subject of a number of recent research reports. Wall Street Zen upgraded Forward Air from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Stifel Nicolaus lifted their price objective on Forward Air from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Forward Air has a consensus rating of "Moderate Buy" and an average target price of $35.00.

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.

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