Forward Air Co. (NASDAQ:FWRD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 206,864 shares of the transportation company's stock after selling 17,770 shares during the period. Bank of New York Mellon Corp owned 0.71% of Forward Air worth $6,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in FWRD. Byrne Asset Management LLC lifted its holdings in shares of Forward Air by 122.9% in the 4th 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 during the last quarter. Quantinno Capital Management LP acquired a new position in Forward Air during the third quarter worth $224,000. LMR Partners LLP purchased a new position in shares of Forward Air during the third quarter worth $232,000. Wolverine Asset Management LLC raised its holdings in shares of Forward Air by 129.6% in the 4th quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company's stock valued at $276,000 after buying an additional 37,461 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Forward Air during the 3rd quarter worth about $298,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FWRD has been the topic of several research reports. Benchmark reissued a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Stifel Nicolaus increased their target price on shares of Forward Air from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. Finally, Robert W. Baird reduced 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 analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $37.00.

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Forward Air Stock Down 0.4 %

Shares of NASDAQ:FWRD traded down $0.10 during trading hours on Thursday, reaching $21.22. The stock had a trading volume of 335,860 shares, compared to its average volume of 857,690. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The firm's 50 day moving average is $28.45 and its 200-day moving average is $32.45. The stock has a market capitalization of $614.26 million, a price-to-earnings ratio of -0.89 and a beta of 1.08. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $40.92.

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.