Proficio Capital Partners LLC Acquires New Shares in Forward Air Co. (NASDAQ:FWRD)

Proficio Capital Partners LLC bought a new stake in Forward Air Co. (NASDAQ:FWRD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,284 shares of the transportation company's stock, valued at approximately $815,000. Proficio Capital Partners LLC owned approximately 0.09% of Forward Air as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FWRD. Byrne Asset Management LLC lifted its stake in Forward Air by 122.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company's stock valued at $35,000 after acquiring an additional 590 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Forward Air in the third quarter valued at about $224,000. LMR Partners LLP bought a new position in shares of Forward Air during the third quarter valued at about $232,000. Wolverine Asset Management LLC boosted its holdings in Forward Air by 129.6% during the fourth quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company's stock worth $276,000 after purchasing an additional 37,461 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Forward Air in the 3rd quarter worth about $298,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

Forward Air Stock Performance

Shares of FWRD traded down $0.62 during trading hours on Tuesday, hitting $17.46. The company's stock had a trading volume of 111,887 shares, compared to its average volume of 591,407. The business has a 50 day simple moving average of $30.55 and a two-hundred day simple moving average of $33.19. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $40.92. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $505.39 million, a price-to-earnings ratio of -0.73 and a beta of 1.08.

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Analyst Upgrades and Downgrades

FWRD has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Benchmark reissued a "hold" rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, Stifel Nicolaus raised their price objective on shares of Forward Air from $34.00 to $36.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $37.00.

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.