Forward Air Co. (NASDAQ:FWRD) Shares Acquired by Bardin Hill Management Partners LP

Bardin Hill Management Partners LP grew its stake in Forward Air Co. (NASDAQ:FWRD - Free Report) by 88.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,595 shares of the transportation company's stock after acquiring an additional 36,398 shares during the quarter. Forward Air comprises approximately 1.2% of Bardin Hill Management Partners LP's portfolio, making the stock its 18th biggest holding. Bardin Hill Management Partners LP owned approximately 0.27% of Forward Air worth $2,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Forward Air by 688.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock valued at $11,573,000 after purchasing an additional 285,465 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Forward Air during the fourth quarter worth approximately $815,000. Principal Financial Group Inc. grew its stake in Forward Air by 7.3% in the 4th quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company's stock worth $3,133,000 after acquiring an additional 6,629 shares during the period. Assenagon Asset Management S.A. acquired a new position in Forward Air in the 4th quarter valued at $11,140,000. Finally, Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 79,960 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Trading Down 3.9 %

Shares of NASDAQ:FWRD traded down $0.69 during trading on Tuesday, reaching $16.75. 519,080 shares of the stock were exchanged, compared to its average volume of 884,316. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a 12-month low of $9.79 and a 12-month high of $40.92. The firm's 50-day moving average price is $17.43 and its 200 day moving average price is $27.71. The firm has a market cap of $509.47 million, a price-to-earnings ratio of -0.70 and a beta of 1.24.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird lowered their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Benchmark reaffirmed a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. Stifel Nicolaus decreased their target price on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, Susquehanna cut 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. 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $32.25.

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.