Hsbc Holdings PLC Takes Position in Forward Air Co. (NASDAQ:FWRD)

Hsbc Holdings PLC purchased a new position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,268 shares of the transportation company's stock, valued at approximately $904,000. Hsbc Holdings PLC owned about 0.10% of Forward Air as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FWRD. Thrivent Financial for Lutherans increased its holdings in shares of Forward Air by 2.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company's stock worth $498,000 after acquiring an additional 432 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Forward Air by 4.1% during the fourth quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company's stock worth $366,000 after purchasing an additional 447 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Forward Air by 5.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company's stock valued at $313,000 after purchasing an additional 500 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Forward Air by 0.6% in the fourth quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock valued at $3,335,000 after purchasing an additional 572 shares during the period. Finally, Byrne Asset Management LLC lifted its stake 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 worth $35,000 after buying an additional 590 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

Shares of NASDAQ:FWRD traded up $0.48 during trading on Wednesday, hitting $17.23. 685,044 shares of the company were exchanged, compared to its average volume of 884,494. The company has a market cap of $523.95 million, a PE ratio of -0.72 and a beta of 1.24. Forward Air Co. has a 52-week low of $9.79 and a 52-week high of $40.92. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a 50 day moving average of $17.32 and a 200 day moving average of $27.63.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FWRD shares. Benchmark reissued a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. Stifel Nicolaus cut their price objective on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Susquehanna decreased 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 report on Monday, March 31st. Finally, Robert W. Baird dropped their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.