Diametric Capital LP Decreases Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Diametric Capital LP cut its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 53.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,546 shares of the transportation company's stock after selling 13,235 shares during the quarter. Diametric Capital LP's holdings in Forward Air were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FWRD. Assenagon Asset Management S.A. acquired a new position in shares of Forward Air in the fourth quarter worth approximately $11,140,000. JPMorgan Chase & Co. lifted its position in shares of Forward Air by 688.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock worth $11,573,000 after purchasing an additional 285,465 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Forward Air by 2,430.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company's stock worth $4,703,000 after purchasing an additional 127,596 shares during the period. Polar Asset Management Partners Inc. bought a new stake in shares of Forward Air in the 3rd quarter valued at $3,866,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company's stock worth $24,376,000 after buying an additional 79,960 shares during the period. Institutional investors own 97.03% of the company's stock.

Forward Air Price Performance

NASDAQ:FWRD traded down $1.83 during trading hours on Friday, hitting $13.12. The stock had a trading volume of 2,166,213 shares, compared to its average volume of 870,019. The firm has a market capitalization of $398.89 million, a price-to-earnings ratio of -0.55 and a beta of 1.11. Forward Air Co. has a one year low of $11.21 and a one year high of $40.92. The company has a 50 day simple moving average of $25.10 and a two-hundred day simple moving average of $31.30. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Robert W. Baird dropped their target price on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus boosted their price objective on Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Benchmark reaffirmed a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, Susquehanna dropped their price target on Forward Air from $35.00 to $32.00 and set a "positive" rating on the stock in a research note on Monday, March 31st. One 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.com, the stock currently has a consensus 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.