Private Management Group Inc. Has $31.21 Million Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Private Management Group Inc. trimmed its stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 967,637 shares of the transportation company's stock after selling 48,877 shares during the period. Forward Air comprises about 1.1% of Private Management Group Inc.'s holdings, making the stock its 25th biggest holding. Private Management Group Inc. owned 3.34% of Forward Air worth $31,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of FWRD. Northwest Investment Counselors LLC purchased a new position in Forward Air during the 3rd quarter worth approximately $39,000. Nisa Investment Advisors LLC grew its holdings 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 buying an additional 763 shares in the last quarter. GAMMA Investing LLC raised its position in Forward Air by 89.2% during the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company's stock valued at $133,000 after buying an additional 1,776 shares during the period. Quantinno Capital Management LP purchased a new stake in Forward Air in the 3rd quarter worth about $224,000. Finally, LMR Partners LLP acquired a new stake in Forward Air during the 3rd quarter worth about $232,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Forward Air Stock Up 0.1 %

Shares of NASDAQ FWRD traded up $0.02 during trading hours on Friday, hitting $32.23. The stock had a trading volume of 673,011 shares, compared to its average volume of 499,465. The firm's 50-day moving average price is $32.57 and its two-hundred day moving average price is $32.97. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $44.10. The company has a market capitalization of $933.06 million, a P/E ratio of -1.35 and a beta of 1.03. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Forward Air from $34.00 to $36.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a "buy" rating in a research note on Friday, October 18th. Benchmark reiterated a "hold" rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Forward Air to a "sell" rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Forward Air has a consensus rating of "Hold" and a consensus price target of $35.67.

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.