Proficio Capital Partners LLC Acquires Shares of 25,284 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 its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldentree Asset Management LP acquired a new stake in Forward Air during the third quarter worth approximately $14,270,000. Assenagon Asset Management S.A. purchased a new stake in shares of Forward Air in the fourth quarter valued at $11,140,000. JPMorgan Chase & Co. increased its stake in Forward Air by 688.6% in the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock valued at $11,573,000 after purchasing an additional 285,465 shares during the last quarter. Verition Fund Management LLC boosted its stake in Forward Air by 1,481.6% in the 3rd quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company's stock worth $7,377,000 after buying an additional 195,220 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Forward Air by 2,430.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company's stock valued at $4,703,000 after buying an additional 127,596 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Stock Down 0.9 %

FWRD traded down $0.18 on Wednesday, reaching $20.73. The company's stock had a trading volume of 655,715 shares, compared to its average volume of 852,231. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $40.92. The business's 50 day moving average is $27.49 and its 200 day moving average is $32.14. 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 stock has a market cap of $600.22 million, a price-to-earnings ratio of -0.87 and a beta of 1.08.

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Analyst Upgrades and Downgrades

FWRD has been the topic of several recent analyst reports. Robert W. Baird cut their price objective on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus lifted 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently 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.