J. Goldman & Co LP cut its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 674,671 shares of the transportation company's stock after selling 76,225 shares during the period. J. Goldman & Co LP owned about 2.33% of Forward Air worth $21,758,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Jefferies Financial Group Inc. lifted its holdings in Forward Air by 148.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company's stock worth $9,213,000 after acquiring an additional 170,503 shares during the period. Hudson Bay Capital Management LP increased its position in shares of Forward Air by 149.8% during the 4th quarter. Hudson Bay Capital Management LP now owns 241,423 shares of the transportation company's stock valued at $7,786,000 after purchasing an additional 144,764 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Forward Air by 32.7% during the 4th quarter. Gotham Asset Management LLC now owns 46,196 shares of the transportation company's stock worth $1,490,000 after purchasing an additional 11,389 shares during the period. Corton Capital Inc. raised its stake in shares of Forward Air by 21.6% during the 4th quarter. Corton Capital Inc. now owns 12,484 shares of the transportation company's stock worth $403,000 after purchasing an additional 2,214 shares during the period. Finally, Brevan Howard Capital Management LP boosted its holdings in shares of Forward Air by 1,355.0% in the 4th quarter. Brevan Howard Capital Management LP now owns 250,000 shares of the transportation company's stock worth $8,062,000 after buying an additional 232,818 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
FWRD has been the subject of a number of research analyst reports. Susquehanna decreased their price objective on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Stifel Nicolaus decreased their price target 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. Finally, Robert W. Baird dropped their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Forward Air has an average rating of "Hold" and an average price target of $32.25.
Check Out Our Latest Analysis on FWRD
Forward Air Stock Performance
Shares of FWRD traded up $0.29 during trading hours on Friday, hitting $19.17. The company's stock had a trading volume of 434,172 shares, compared to its average volume of 852,793. The business has a 50 day simple moving average of $17.00 and a two-hundred day simple moving average of $26.84. 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 company has a market cap of $583.21 million, a price-to-earnings ratio of -0.80 and a beta of 1.24.
Forward Air Company Profile
(
Free Report)
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.
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