Bryce Point Capital LLC Purchases New Position in Forward Air Co. (NASDAQ:FWRD)

Bryce Point Capital LLC acquired a new position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,436 shares of the transportation company's stock, valued at approximately $595,000. Bryce Point Capital LLC owned approximately 0.06% of Forward Air at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Byrne Asset Management LLC raised its position in Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after purchasing an additional 590 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after buying an additional 1,782 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Forward Air during the 3rd quarter worth about $224,000. KLP Kapitalforvaltning AS bought a new stake in Forward Air during the 4th quarter worth about $235,000. Finally, Wolverine Asset Management LLC grew its holdings 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 acquiring an additional 37,461 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

Forward Air Trading Down 3.0 %

FWRD stock traded down $0.38 during midday trading on Tuesday, reaching $12.07. The company's stock had a trading volume of 312,171 shares, compared to its average volume of 871,769. The business's 50-day simple moving average is $24.66 and its 200-day simple moving average is $31.09. The stock has a market cap of $367.09 million, a PE ratio of -0.51 and a beta of 1.11. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $40.92. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07.

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Analyst Ratings Changes

FWRD has been the topic of a number of research reports. Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Susquehanna dropped their price objective on shares of Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a research report on Monday, March 31st. Stifel Nicolaus increased their price objective on Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a research report 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 for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Forward Air has an average rating of "Hold" and an average price target of $35.75.

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.