Essex Investment Management Co. LLC Makes New Investment in Forward Air Co. (NASDAQ:FWRD)

Essex Investment Management Co. LLC bought a new stake in Forward Air Co. (NASDAQ:FWRD - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 77,127 shares of the transportation company's stock, valued at approximately $2,487,000. Essex Investment Management Co. LLC owned approximately 0.27% of Forward Air as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in FWRD. State of Alaska Department of Revenue raised its holdings in Forward Air by 4.1% during the 4th quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company's stock worth $366,000 after purchasing an additional 447 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Forward Air by 5.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company's stock valued at $313,000 after buying an additional 500 shares during the period. Byrne Asset Management LLC boosted its stake in Forward Air by 122.9% in the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after acquiring an additional 590 shares during the last quarter. Inspire Investing LLC grew its holdings in Forward Air by 9.5% during the 4th quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company's stock worth $406,000 after acquiring an additional 1,088 shares during the period. Finally, AlphaQuest LLC raised its position in shares of Forward Air by 155.9% during the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company's stock valued at $94,000 after acquiring an additional 1,782 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

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Forward Air Stock Down 0.6 %

Shares of FWRD stock traded down $0.12 on Tuesday, hitting $17.96. 514,980 shares of the stock were exchanged, compared to its average volume of 601,113. The firm has a market capitalization of $519.87 million, a P/E ratio of -0.76 and a beta of 1.08. The business has a 50-day moving average of $30.55 and a 200 day moving average of $33.19. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $40.92.

Analysts Set New Price Targets

A number of brokerages recently commented on FWRD. Robert W. Baird decreased their price objective on Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus upped their target price on shares of Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Finally, Benchmark reissued a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $37.00.

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.