Penn Capital Management Company LLC Has $12.29 Million Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Penn Capital Management Company LLC lifted its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 17.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 380,947 shares of the transportation company's stock after purchasing an additional 57,854 shares during the period. Penn Capital Management Company LLC owned approximately 1.32% of Forward Air worth $12,286,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FWRD. Sterling Capital Management LLC raised its holdings in Forward Air by 812.5% during the 4th 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. Byrne Asset Management LLC increased its position in shares of Forward Air by 122.9% in the fourth 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 in the last quarter. AlphaQuest LLC raised its holdings in shares of Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after acquiring an additional 1,782 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Forward Air in the 4th quarter worth approximately $235,000. Finally, Polymer Capital Management US LLC purchased a new position in Forward Air during the 4th quarter worth approximately $254,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FWRD shares. Robert W. Baird dropped their price target on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus reduced 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 report on Thursday, April 10th. Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Susquehanna lowered their price target on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.25.

Forward Air Stock Down 0.7 %

Shares of Forward Air stock traded down $0.10 during midday trading on Tuesday, reaching $14.42. 119,504 shares of the company's stock traded hands, compared to its average volume of 878,446. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a 52 week low of $9.79 and a 52 week high of $40.92. The company's 50 day simple moving average is $18.71 and its 200 day simple moving average is $28.54. The company has a market cap of $438.41 million, a price-to-earnings ratio of -0.60 and a beta of 1.11.

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.