Forward Air Co. (NASDAQ:FWRD) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 82,973 shares of the transportation company's stock after selling 49,873 shares during the quarter. BNP Paribas Financial Markets owned about 0.29% of Forward Air worth $2,676,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FWRD. Assenagon Asset Management S.A. purchased a new position in shares of Forward Air in the 4th quarter valued at about $11,140,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Forward Air in the 4th quarter valued at about $9,198,000. Renaissance Technologies LLC purchased a new position in shares of Forward Air in the 4th quarter valued at about $6,290,000. Icon Advisers Inc. Co. purchased a new position in shares of Forward Air in the 4th quarter valued at about $4,128,000. Finally, Mill Road Capital Management LLC purchased a new position in shares of Forward Air in the 4th quarter valued at about $4,117,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

Shares of FWRD stock traded down $0.33 during midday trading on Tuesday, hitting $18.15. The company had a trading volume of 186,453 shares, compared to its average volume of 842,925. The company's 50 day simple moving average is $17.06 and its 200 day simple moving average is $26.47. Forward Air Co. has a 52-week low of $9.79 and a 52-week high of $40.92. The stock has a market cap of $552.03 million, a price-to-earnings ratio of -0.75 and a beta of 1.24. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

Analyst Upgrades and Downgrades

FWRD has been the topic of a number of research reports. Stifel Nicolaus dropped their price target on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Susquehanna dropped their price target on 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 dropped their price target 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.25.

Forward Air Company 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.