Quantbot Technologies LP Invests $813,000 in Forward Air Co. (NASDAQ:FWRD)

Quantbot Technologies LP purchased a new stake in shares of Forward Air Co. (NASDAQ:FWRD - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,956 shares of the transportation company's stock, valued at approximately $813,000. Quantbot Technologies LP owned approximately 0.08% of Forward Air at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FWRD. Dynamic Technology Lab Private Ltd purchased a new position in Forward Air during the 3rd quarter valued at about $298,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Forward Air by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company's stock valued at $23,926,000 after purchasing an additional 28,669 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Forward Air in the 3rd quarter worth about $437,000. AlpInvest Partners B.V. bought a new stake in Forward Air in the third quarter worth $3,969,000. Finally, Carlyle Group Inc. purchased a new stake in shares of Forward Air during the third quarter valued at approximately $4,118,000. 97.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Forward Air from $31.00 to $36.00 and gave the company a "hold" rating in a report on Monday, October 21st. Benchmark reissued a "hold" rating on shares of Forward Air in a research note on Monday, August 12th. Robert W. Baird upped their target price on shares of Forward Air from $17.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a "buy" rating in a report on Friday, October 18th. Finally, StockNews.com upgraded Forward Air to a "sell" rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Forward Air presently has a consensus rating of "Hold" and an average price target of $39.25.

Forward Air Price Performance

NASDAQ:FWRD traded down $0.30 during trading hours on Monday, reaching $36.39. 224,169 shares of the company traded hands, compared to its average volume of 980,449. The stock has a market cap of $1.05 billion, a P/E ratio of -1.54 and a beta of 1.02. 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 firm's 50-day moving average is $36.16 and its 200-day moving average is $28.37. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $67.20.

Forward Air Company 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.