Invesco Ltd. Sells 113,597 Shares of Forward Air Co. (NASDAQ:FWRD)

Invesco Ltd. trimmed its position in Forward Air Co. (NASDAQ:FWRD - Free Report) by 37.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,377 shares of the transportation company's stock after selling 113,597 shares during the quarter. Invesco Ltd. owned about 0.66% of Forward Air worth $6,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Byrne Asset Management LLC raised its holdings in Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock worth $35,000 after acquiring an additional 590 shares during the period. AlphaQuest LLC grew its position in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after purchasing an additional 1,782 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Forward Air in the fourth quarter worth about $235,000. Polymer Capital Management US LLC acquired a new position in shares of Forward Air during the 4th quarter worth about $254,000. Finally, Wolverine Asset Management LLC boosted its stake in Forward Air by 129.6% during the 4th quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company's stock valued at $276,000 after purchasing an additional 37,461 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Price Performance

Shares of NASDAQ:FWRD traded up $0.98 during midday trading on Thursday, reaching $15.70. 71,050 shares of the company's stock were exchanged, compared to its average volume of 877,508. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The company's 50 day simple moving average is $18.13 and its two-hundred day simple moving average is $28.35. Forward Air Co. has a 12 month low of $9.79 and a 12 month high of $40.92. The firm has a market capitalization of $477.18 million, a PE ratio of -0.65 and a beta of 1.11.

Analyst Ratings Changes

A number of brokerages have recently commented on FWRD. Susquehanna cut their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Robert W. Baird decreased their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Benchmark reaffirmed a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus decreased their target price on 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 investment 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 stock currently has a consensus rating of "Hold" and an average price target 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.