Hudson Bay Capital Management LP Increases Position in Forward Air Co. (NASDAQ:FWRD)

Hudson Bay Capital Management LP increased its stake in Forward Air Co. (NASDAQ:FWRD - Free Report) by 149.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,423 shares of the transportation company's stock after purchasing an additional 144,764 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.83% of Forward Air worth $7,786,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FWRD. Sterling Capital Management LLC raised its stake in shares of Forward Air by 812.5% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock valued at $26,000 after buying an additional 715 shares during the period. Byrne Asset Management LLC lifted its holdings in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after purchasing an additional 590 shares during the last quarter. AlphaQuest LLC boosted its position in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock worth $94,000 after purchasing an additional 1,782 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Forward Air in the fourth quarter worth about $138,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Forward Air in the fourth quarter valued at approximately $235,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Price Performance

NASDAQ:FWRD traded up $0.10 during trading hours on Thursday, hitting $18.88. 350,343 shares of the company's stock traded hands, compared to its average volume of 855,945. The firm has a market cap of $574.39 million, a P/E ratio of -0.79 and a beta of 1.24. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The business's fifty day simple moving average is $16.99 and its two-hundred day simple moving average is $26.97. Forward Air Co. has a 52 week low of $9.79 and a 52 week high of $40.92.

Wall Street Analyst Weigh In

FWRD has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research note on Monday, March 31st. Stifel Nicolaus dropped their price objective on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Robert W. Baird reduced their target price 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 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 company's stock. Based on data from MarketBeat, Forward Air presently 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.