Forward Air Co. (NASDAQ:FWRD) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 167.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,665 shares of the transportation company's stock after buying an additional 41,735 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.23% of Forward Air worth $2,150,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FWRD. Franklin Resources Inc. purchased a new stake in Forward Air in the 3rd quarter worth approximately $325,000. JPMorgan Chase & Co. increased 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 valued at $11,573,000 after purchasing an additional 285,465 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Forward Air during the fourth quarter worth about $11,140,000. Sugar Maple Asset Management LLC boosted its stake in Forward Air by 24.4% in the 4th quarter. Sugar Maple Asset Management LLC now owns 20,900 shares of the transportation company's stock worth $674,000 after buying an additional 4,100 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in Forward Air by 9.5% in the 4th quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company's stock valued at $406,000 after buying an additional 1,088 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Trading Up 2.1 %

Shares of Forward Air stock traded up $0.32 during trading hours on Thursday, hitting $15.85. The company's stock had a trading volume of 95,961 shares, compared to its average volume of 881,758. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a market capitalization of $481.89 million, a PE ratio of -0.67 and a beta of 1.11. The business has a fifty day moving average of $19.68 and a 200 day moving average of $29.10. Forward Air Co. has a 1-year low of $9.79 and a 1-year high of $40.92.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Benchmark reissued a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Robert W. Baird decreased their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Susquehanna dropped their price objective 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, Stifel Nicolaus cut their target price on Forward Air from $29.00 to $22.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Forward Air presently has a consensus rating of "Hold" and an average price target of $32.25.

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.