Forward Air Co. (NASDAQ:FWRD) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP decreased its position in Forward Air Co. (NASDAQ:FWRD - Free Report) by 72.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,053 shares of the transportation company's stock after selling 26,871 shares during the quarter. Quantbot Technologies LP's holdings in Forward Air were worth $313,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FWRD. Radnor Capital Management LLC purchased a new position in shares of Forward Air in the fourth quarter valued at about $225,000. Profit Investment Management LLC raised its stake in Forward Air by 10.5% in the fourth quarter. Profit Investment Management LLC now owns 42,341 shares of the transportation company's stock worth $2,662,000 after buying an additional 4,040 shares in the last quarter. Pacer Advisors Inc. raised its stake in Forward Air by 46.0% in the fourth quarter. Pacer Advisors Inc. now owns 645,931 shares of the transportation company's stock worth $40,610,000 after buying an additional 203,597 shares in the last quarter. AlphaMark Advisors LLC raised its stake in Forward Air by 53.7% in the fourth quarter. AlphaMark Advisors LLC now owns 3,433 shares of the transportation company's stock worth $216,000 after buying an additional 1,199 shares in the last quarter. Finally, Boston Trust Walden Corp raised its stake in Forward Air by 0.9% in the fourth quarter. Boston Trust Walden Corp now owns 299,755 shares of the transportation company's stock worth $18,846,000 after buying an additional 2,710 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Stock Down 1.9 %

Shares of NASDAQ:FWRD traded down $0.47 during trading on Thursday, reaching $24.50. 621,788 shares of the stock traded hands, compared to its average volume of 1,113,763. The stock has a 50-day moving average of $18.56 and a two-hundred day moving average of $30.37. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $121.38. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $647.78 million, a P/E ratio of 7.16 and a beta of 1.00.

Forward Air (NASDAQ:FWRD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.49). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The firm had revenue of $541.81 million for the quarter, compared to analysts' expectations of $644.00 million. During the same quarter in the previous year, the company earned $1.37 EPS. As a group, sell-side analysts expect that Forward Air Co. will post -0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FWRD has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Forward Air from $14.00 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 3rd. Benchmark reaffirmed a "hold" rating on shares of Forward Air in a research note on Wednesday, April 24th. Finally, Wolfe Research raised shares of Forward Air from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $76.86.

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.