Numerai GP LLC Takes $1.01 Million Position in Forward Air Co. (NASDAQ:FWRD)

Numerai GP LLC bought a new stake in Forward Air Co. (NASDAQ:FWRD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 31,394 shares of the transportation company's stock, valued at approximately $1,012,000. Numerai GP LLC owned about 0.11% of Forward Air at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new position in shares of Forward Air during the fourth quarter worth about $11,140,000. Adage Capital Partners GP L.L.C. purchased a new position in Forward Air in the fourth quarter worth approximately $9,198,000. Brevan Howard Capital Management LP grew its holdings in Forward Air by 1,355.0% during the 4th quarter. Brevan Howard Capital Management LP now owns 250,000 shares of the transportation company's stock worth $8,062,000 after acquiring an additional 232,818 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Forward Air in the 4th quarter valued at approximately $6,290,000. Finally, Jefferies Financial Group Inc. raised its holdings in shares of Forward Air by 148.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company's stock valued at $9,213,000 after purchasing an additional 170,503 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Price Performance

Shares of Forward Air stock traded down $0.11 during trading on Tuesday, reaching $18.36. The company's stock had a trading volume of 83,229 shares, compared to its average volume of 707,728. The business has a 50 day moving average price of $17.06 and a 200-day moving average price of $26.47. Forward Air Co. has a 12-month low of $9.78 and a 12-month high of $40.92. The company has a market capitalization of $558.57 million, a P/E ratio of -0.77 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.

Analysts Set New Price Targets

FWRD has been the subject of several recent analyst reports. 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 report on Thursday, April 10th. Susquehanna decreased 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. Finally, Robert W. Baird lowered their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. One research 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's stock. According to data from MarketBeat, Forward Air presently has an average rating of "Hold" and a consensus target price 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.