Anthracite Investment Company Inc. Buys Shares of 70,015 Forward Air Co. (NASDAQ:FWRD)

Anthracite Investment Company Inc. bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 70,015 shares of the transportation company's stock, valued at approximately $2,258,000. Anthracite Investment Company Inc. owned approximately 0.24% of Forward Air at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Byrne Asset Management LLC lifted its position in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after acquiring an additional 590 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Forward Air by 155.9% during the 4th 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. Quantinno Capital Management LP acquired a new stake in shares of Forward Air in the 3rd quarter worth $224,000. KLP Kapitalforvaltning AS purchased a new position in Forward Air during the 4th quarter worth $235,000. Finally, Wolverine Asset Management LLC grew 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 worth $276,000 after buying an additional 37,461 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Forward Air Stock Performance

FWRD stock traded down $0.18 during trading on Friday, hitting $20.72. 299,218 shares of the company traded hands, compared to its average volume of 867,466. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $40.92. The stock's 50-day simple moving average is $26.73 and its 200 day simple moving average is $31.90. The company has a market cap of $629.95 million, a PE ratio of -0.87 and a beta of 1.08.

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Analyst Ratings Changes

Several equities research analysts have weighed in on FWRD shares. Benchmark reissued a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. Stifel Nicolaus raised their price objective on Forward Air from $34.00 to $36.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird dropped their target price 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $37.00.

Forward Air 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.