Assenagon Asset Management S.A. Purchases Shares of 345,411 Forward Air Co. (NASDAQ:FWRD)

Assenagon Asset Management S.A. acquired a new stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 345,411 shares of the transportation company's stock, valued at approximately $11,140,000. Assenagon Asset Management S.A. owned about 1.19% of Forward Air as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Forward Air by 688.6% during the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock valued at $11,573,000 after purchasing an additional 285,465 shares in the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Forward Air during the 3rd quarter worth about $14,270,000. Verition Fund Management LLC lifted its holdings in shares of Forward Air by 1,481.6% during the 3rd quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company's stock valued at $7,377,000 after buying an additional 195,220 shares during the last quarter. Weiss Asset Management LP lifted its stake in Forward Air by 73.0% in the third quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company's stock valued at $2,790,000 after acquiring an additional 33,261 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in Forward Air in the third quarter worth approximately $3,866,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Price Performance

Forward Air stock traded up $0.84 during midday trading on Friday, hitting $33.89. 445,010 shares of the stock were exchanged, compared to its average volume of 493,638. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $61.42. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a fifty day simple moving average of $33.29 and a two-hundred day simple moving average of $31.85.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FWRD shares. Jefferies Financial Group set a $47.00 price target on Forward Air and gave the stock a "buy" rating in a research report on Friday, October 18th. Stifel Nicolaus boosted their target price on Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, October 21st. StockNews.com upgraded Forward Air to a "sell" rating in a report on Wednesday, November 6th. Finally, Benchmark restated a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $35.67.

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.