Forward Air Co. (NASDAQ:FWRD) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in Forward Air Co. (NASDAQ:FWRD - Free Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,043,566 shares of the transportation company's stock after selling 19,408 shares during the period. Vanguard Group Inc. owned approximately 7.06% of Forward Air worth $65,905,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FWRD. Byrne Asset Management LLC lifted its holdings in shares of Forward Air by 122.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after acquiring an additional 590 shares in the last quarter. AlphaQuest LLC grew its stake in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after buying an additional 1,782 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Forward Air during the 3rd quarter valued at about $224,000. KLP Kapitalforvaltning AS purchased a new position in Forward Air in the 4th quarter worth approximately $235,000. Finally, Wolverine Asset Management LLC raised its stake in shares of Forward Air by 129.6% during the fourth quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company's stock valued at $276,000 after purchasing an additional 37,461 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FWRD shares. Stifel Nicolaus reduced their price target on Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Benchmark reiterated a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. Susquehanna cut their target price 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, Robert W. Baird cut 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Forward Air presently has a consensus rating of "Hold" and an average price target of $32.25.

Forward Air Stock Performance

Shares of NASDAQ FWRD traded down $0.27 during mid-day trading on Wednesday, hitting $14.34. The company had a trading volume of 69,092 shares, compared to its average volume of 883,352. The stock has a market cap of $435.98 million, a price-to-earnings ratio of -0.60 and a beta of 1.11. The firm's 50 day simple moving average is $21.59 and its two-hundred day simple moving average is $29.88. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a 12 month low of $9.79 and a 12 month high of $40.92.

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.