Forward Air Co. (NASDAQ:FWRD) Shares Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 112.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,743 shares of the transportation company's stock after acquiring an additional 66,518 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.43% of Forward Air worth $4,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FWRD. Quantinno Capital Management LP purchased a new position in Forward Air during the 3rd quarter worth $224,000. Weiss Asset Management LP grew its position in shares of Forward Air by 73.0% during the 3rd quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company's stock worth $2,790,000 after buying an additional 33,261 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Forward Air by 22.0% during the third quarter. XTX Topco Ltd now owns 19,549 shares of the transportation company's stock valued at $692,000 after buying an additional 3,520 shares during the period. Franklin Resources Inc. bought a new stake in shares of Forward Air in the third quarter valued at about $325,000. Finally, JPMorgan Chase & Co. lifted its stake in Forward Air by 688.6% in the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock worth $11,573,000 after acquiring an additional 285,465 shares during the period. Institutional investors own 97.03% of the company's stock.

Forward Air Stock Up 1.6 %

NASDAQ:FWRD traded up $0.21 during midday trading on Friday, reaching $13.52. 1,045,533 shares of the stock traded hands, compared to its average volume of 888,008. The business has a 50-day moving average of $22.28 and a two-hundred day moving average of $30.17. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a 12-month low of $9.79 and a 12-month high of $40.92. The stock has a market capitalization of $411.05 million, a PE ratio of -0.57 and a beta of 1.11.

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Analyst Upgrades and Downgrades

Several research firms have recently commented on FWRD. Stifel Nicolaus reduced their price target on shares of Forward Air from $29.00 to $22.00 and set a "hold" rating for the company in a report on Thursday. Benchmark reissued a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. Susquehanna lowered their target price on Forward Air from $35.00 to $32.00 and set a "positive" rating for the company in a report on Monday, March 31st. Finally, Robert W. Baird cut their price target on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Forward Air currently has an average rating of "Hold" and a consensus price target of $32.25.

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.