Hsbc Holdings PLC Takes $904,000 Position in Forward Air Co. (NASDAQ:FWRD)

Hsbc Holdings PLC bought a new position in Forward Air Co. (NASDAQ:FWRD - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 28,268 shares of the transportation company's stock, valued at approximately $904,000. Hsbc Holdings PLC owned approximately 0.10% of Forward Air as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FWRD. Assenagon Asset Management S.A. purchased a new stake in shares of Forward Air during the fourth quarter valued at $11,140,000. JPMorgan Chase & Co. grew its stake in Forward Air by 688.6% during 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 during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Forward Air in the fourth quarter worth about $6,290,000. Icon Advisers Inc. Co. acquired a new stake in shares of Forward Air during the fourth quarter worth about $4,128,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Forward Air by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock valued at $24,376,000 after buying an additional 79,960 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus decreased their price objective on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Susquehanna cut their price target on 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 decreased their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. One investment 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. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $32.25.

Forward Air Price Performance

NASDAQ FWRD traded down $0.91 during trading hours on Friday, reaching $16.36. The company's stock had a trading volume of 725,039 shares, compared to its average volume of 863,854. 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 1-year low of $9.79 and a 1-year high of $40.92. The company's 50-day moving average is $17.10 and its two-hundred day moving average is $27.27. The firm has a market capitalization of $497.49 million, a price-to-earnings ratio of -0.69 and a beta of 1.24.

Forward Air 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.