Verition Fund Management LLC Has $7.38 Million Stock Position in Forward Air Co. (NASDAQ:FWRD)

Verition Fund Management LLC raised its stake in Forward Air Co. (NASDAQ:FWRD - Free Report) by 1,481.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 208,396 shares of the transportation company's stock after purchasing an additional 195,220 shares during the period. Verition Fund Management LLC owned approximately 0.72% of Forward Air worth $7,377,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in shares of Forward Air during the second quarter valued at approximately $26,000. Gladius Capital Management LP raised its stake in shares of Forward Air by 33.5% in the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company's stock valued at $37,000 after buying an additional 493 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company's stock worth $38,000 after acquiring an additional 1,910 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Forward Air during the 3rd quarter valued at about $39,000. Finally, Nisa Investment Advisors LLC increased its stake in Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock valued at $70,000 after acquiring an additional 763 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Trading Down 1.9 %

Shares of NASDAQ FWRD traded down $0.69 during midday trading on Monday, reaching $36.00. 824,300 shares of the stock were exchanged, compared to its average volume of 983,361. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $67.20. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.54 and a beta of 1.02. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50-day simple moving average of $36.16 and a two-hundred day simple moving average of $28.37.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FWRD shares. StockNews.com upgraded Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Stifel Nicolaus increased their target price on shares of Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Benchmark reissued a "hold" rating on shares of Forward Air in a research note on Monday, August 12th. 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. Finally, Robert W. Baird boosted their price objective on Forward Air from $17.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $39.25.

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.