Quantbot Technologies LP Increases Stock Position in Forward Air Co. (NASDAQ:FWRD)

Quantbot Technologies LP boosted its holdings in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) by 66.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,114 shares of the transportation company's stock after buying an additional 15,158 shares during the quarter. Quantbot Technologies LP owned 0.13% of Forward Air worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of Forward Air by 688.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company's stock valued at $11,573,000 after buying an additional 285,465 shares in the last quarter. Goldentree Asset Management LP purchased a new stake in shares of Forward Air during the third quarter worth about $14,270,000. Verition Fund Management LLC raised its position in shares of Forward Air by 1,481.6% during the 3rd quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company's stock worth $7,377,000 after purchasing an additional 195,220 shares during the last quarter. Weiss Asset Management LP lifted its stake in Forward Air by 73.0% in the 3rd quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company's stock valued at $2,790,000 after buying an additional 33,261 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Forward Air in the 4th quarter worth about $815,000. Institutional investors and hedge funds own 97.03% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FWRD. Stifel Nicolaus upped their target price 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. Robert W. Baird dropped their price objective on shares of Forward Air from $32.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, February 27th. Finally, Benchmark reissued a "hold" rating on shares of Forward Air in a research note on Tuesday, January 7th. One 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, the stock has an average rating of "Hold" and an average target price of $37.00.

Forward Air Trading Down 0.9 %

Shares of FWRD traded down $0.18 during mid-day trading on Friday, reaching $20.72. The stock had a trading volume of 299,218 shares, compared to its average volume of 867,466. 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 $599.93 million, a price-to-earnings ratio of -0.87 and a beta of 1.08. The business's fifty day moving average is $26.73 and its 200 day moving average is $31.90. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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.