128,000 Shares in Forward Air Co. (NASDAQ:FWRD) Bought by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. purchased a new position in Forward Air Co. (NASDAQ:FWRD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 128,000 shares of the transportation company's stock, valued at approximately $4,128,000. Icon Advisers Inc. Co. owned about 0.44% of Forward Air at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC boosted its position in shares of Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company's stock worth $26,000 after buying an additional 715 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Forward Air in the 4th quarter worth approximately $320,000. Renaissance Technologies LLC acquired a new position in shares of Forward Air during the fourth quarter valued at approximately $6,290,000. Polymer Capital Management US LLC bought a new stake in Forward Air during the fourth quarter worth approximately $254,000. Finally, Federated Hermes Inc. lifted its position in Forward Air by 0.6% in the fourth quarter. Federated Hermes Inc. now owns 103,397 shares of the transportation company's stock worth $3,335,000 after purchasing an additional 572 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Stock Up 6.6 %

Shares of FWRD traded up $0.97 during mid-day trading on Friday, reaching $15.63. The company's stock had a trading volume of 563,595 shares, compared to its average volume of 885,022. The company has a market cap of $475.20 million, a price-to-earnings ratio of -0.66 and a beta of 1.11. The business has a fifty day moving average of $20.59 and a 200 day moving average of $29.51. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 1 year low of $9.79 and a 1 year high of $40.92.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Susquehanna dropped their price objective 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. Benchmark reissued a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. Robert W. Baird dropped their target price on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their price target 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. 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. According to data from MarketBeat.com, 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.