Polar Asset Management Partners Inc. Makes New Investment in Forward Air Co. (NASDAQ:FWRD)

Polar Asset Management Partners Inc. acquired a new position in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 109,200 shares of the transportation company's stock, valued at approximately $3,866,000. Polar Asset Management Partners Inc. owned 0.38% of Forward Air at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages have weighed in on FWRD. StockNews.com raised shares of Forward Air to a "sell" rating in a report on Wednesday, November 6th. Stifel Nicolaus lifted their target price on Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a research report on Monday, October 21st. Benchmark restated a "hold" rating on shares of Forward Air in a research note on Monday, August 12th. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the stock a "buy" rating in a research 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 company a "neutral" rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $39.25.

Forward Air Price Performance

Shares of FWRD stock traded down $0.54 during trading hours on Thursday, hitting $33.76. The company had a trading volume of 406,859 shares, compared to its average volume of 976,906. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $67.20. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The firm's fifty day moving average is $36.02 and its 200 day moving average is $28.73. The firm has a market capitalization of $977.49 million, a price-to-earnings ratio of -1.42 and a beta of 1.02.

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.