Fmr LLC Sells 18,505 Shares of Forward Air Co. (NASDAQ:FWRD)

FMR LLC cut its holdings in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 76.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,750 shares of the transportation company's stock after selling 18,505 shares during the period. FMR LLC's holdings in Forward Air were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FWRD. Clearlake Capital Group L.P. lifted its holdings in Forward Air by 255.2% in the second quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company's stock worth $72,828,000 after buying an additional 2,747,994 shares during the period. MFN Partners Management LP purchased a new position in shares of Forward Air in the 2nd quarter valued at approximately $17,208,000. 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 purchasing an additional 597,120 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Forward Air by 11,740.6% during the second quarter. Point72 Asset Management L.P. now owns 372,500 shares of the transportation company's stock valued at $7,092,000 after purchasing an additional 375,700 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in Forward Air by 34.1% in the second quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company's stock worth $25,451,000 after purchasing an additional 339,982 shares during the period. Institutional investors own 97.03% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FWRD. StockNews.com raised Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Stifel Nicolaus increased their price objective on shares of Forward Air from $31.00 to $36.00 and gave the company a "hold" rating in a research report on Monday, October 21st. Finally, Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a "buy" rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $39.25.

Forward Air Stock Performance

Shares of NASDAQ FWRD traded down $1.94 during trading on Friday, reaching $28.93. 1,500,703 shares of the company traded hands, compared to its average volume of 958,023. The firm has a 50 day simple moving average of $35.28 and a 200-day simple moving average of $30.21. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $67.20. The stock has a market capitalization of $837.64 million, a PE ratio of -1.21 and a beta of 1.02. 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 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.