Bardin Hill Management Partners LP Invests $1.46 Million in Forward Air Co. (NASDAQ:FWRD)

Bardin Hill Management Partners LP purchased a new position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 41,197 shares of the transportation company's stock, valued at approximately $1,458,000. Forward Air comprises 0.7% of Bardin Hill Management Partners LP's holdings, making the stock its 23rd biggest holding. Bardin Hill Management Partners LP owned approximately 0.14% of Forward Air at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FWRD. Goldentree Asset Management LP acquired a new position in shares of Forward Air in the third quarter valued at approximately $14,270,000. Boston Trust Walden Corp bought a new position in Forward Air in the 2nd quarter valued at about $611,000. Vanguard Group Inc. increased its stake in Forward Air by 14.2% in the first quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company's stock valued at $106,017,000 after acquiring an additional 424,924 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Forward Air by 103.9% in the first quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company's stock worth $664,000 after acquiring an additional 10,877 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company's stock valued at $12,965,000 after acquiring an additional 597,120 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

NASDAQ FWRD traded down $1.05 during trading hours on Monday, reaching $35.64. 165,548 shares of the company were exchanged, compared to its average volume of 980,263. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $67.20. The business's 50 day simple moving average is $36.16 and its 200-day simple moving average is $28.37. 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 stock has a market capitalization of $1.03 billion, a P/E ratio of -1.54 and a beta of 1.02.

Analyst Ratings Changes

FWRD has been the topic of a number of recent research reports. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the stock a "buy" rating in a report on Friday, October 18th. Stifel Nicolaus raised their price objective on shares of Forward Air from $31.00 to $36.00 and gave the company a "hold" rating in a research note on Monday, October 21st. StockNews.com raised shares of Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Benchmark reissued a "hold" rating on shares of Forward Air in a research report on Monday, August 12th. Finally, Robert W. Baird raised their price target on shares of Forward Air from $17.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Forward Air currently has an average rating of "Hold" and an average target price of $39.25.

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.