Littlejohn & Co. LLC Sells 574,049 Shares of Forward Air Co. (NASDAQ:FWRD)

Littlejohn & Co. LLC lowered its position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 25.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,665,660 shares of the transportation company's stock after selling 574,049 shares during the period. Forward Air accounts for 29.8% of Littlejohn & Co. LLC's portfolio, making the stock its biggest holding. Littlejohn & Co. LLC owned about 5.75% of Forward Air worth $58,964,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of Forward Air during the third quarter valued at about $39,000. Point72 DIFC Ltd acquired a new stake in shares of Forward Air in the 2nd quarter worth approximately $26,000. Gladius Capital Management LP increased its stake in shares of Forward Air by 33.5% during the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company's stock valued at $37,000 after acquiring an additional 493 shares during the period. Nisa Investment Advisors LLC raised its holdings in Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock worth $70,000 after purchasing an additional 763 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company's stock valued at $38,000 after purchasing an additional 1,910 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Stock Down 1.2 %

Shares of Forward Air stock traded down $0.44 during trading hours on Monday, reaching $35.44. 691,294 shares of the company's stock were exchanged, compared to its average volume of 990,732. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a 50 day moving average of $36.17 and a two-hundred day moving average of $27.65. The stock has a market cap of $1.03 billion, a P/E ratio of -1.49 and a beta of 1.02. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $67.20.

Wall Street Analyst Weigh In

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

About Forward Air

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.