New York State Common Retirement Fund Raises Position in Forward Air Co. (NASDAQ:FWRD)

New York State Common Retirement Fund raised its holdings in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 17.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 273,462 shares of the transportation company's stock after purchasing an additional 40,176 shares during the period. New York State Common Retirement Fund owned 0.94% of Forward Air worth $8,819,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Byrne Asset Management LLC increased its stake in shares of Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after purchasing an additional 590 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company's stock valued at $70,000 after purchasing an additional 763 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of Forward Air during the third quarter valued at approximately $224,000. LMR Partners LLP bought a new position in shares of Forward Air during the third quarter valued at approximately $232,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Forward Air during the third quarter valued at approximately $298,000. Institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

NASDAQ:FWRD traded down $0.53 during trading hours on Friday, reaching $22.47. The company had a trading volume of 1,159,275 shares, compared to its average volume of 569,758. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $40.92. The firm has a market cap of $650.60 million, a price-to-earnings ratio of -0.94 and a beta of 1.03. The firm's 50 day moving average price is $31.46 and its 200-day moving average price is $33.38.

Remove Ads

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FWRD. Robert W. Baird reduced their price target on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday. StockNews.com raised shares of Forward Air to a "sell" rating in a research report on Wednesday, November 6th. Stifel Nicolaus raised their price target on shares of Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Finally, Benchmark reissued a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $37.00.

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.