BNP Paribas Financial Markets Has $4.70 Million Position in Forward Air Co. (NASDAQ:FWRD)

BNP Paribas Financial Markets grew its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 2,430.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,846 shares of the transportation company's stock after purchasing an additional 127,596 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.46% of Forward Air worth $4,703,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Boston Trust Walden Corp bought a new position in shares of Forward Air during the second quarter valued at approximately $611,000. Tidal Investments LLC boosted its position in shares of Forward Air by 103.9% during the first quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company's stock worth $664,000 after buying an additional 10,877 shares during the period. Federated Hermes Inc. boosted its position in shares of Forward Air by 712.5% during the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company's stock worth $12,965,000 after buying an additional 597,120 shares during the period. Private Management Group Inc. boosted its position in shares of Forward Air by 34.1% during the second quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company's stock worth $25,451,000 after buying an additional 339,982 shares during the period. Finally, Paralel Advisors LLC boosted its position in shares of Forward Air by 47.1% during the second quarter. Paralel Advisors LLC now owns 750,000 shares of the transportation company's stock worth $14,280,000 after buying an additional 240,000 shares during the period. 97.03% of the stock is owned by institutional investors.

Forward Air Price Performance

FWRD traded down $0.51 during trading on Wednesday, reaching $33.88. The stock had a trading volume of 197,318 shares, compared to its average volume of 978,046. The stock has a 50 day moving average of $36.09 and a two-hundred day moving average of $28.66. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $67.20. The firm has a market capitalization of $980.83 million, a price-to-earnings ratio of -1.44 and a beta of 1.02.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FWRD. Stifel Nicolaus boosted their price objective on Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Robert W. Baird boosted their price objective on Forward Air from $17.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Monday, August 12th. StockNews.com upgraded Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a "buy" rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $39.25.

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.