Weiss Asset Management LP Increases Stake in Forward Air Co. (NASDAQ:FWRD)

Weiss Asset Management LP lifted its holdings in Forward Air Co. (NASDAQ:FWRD - Free Report) by 73.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 78,803 shares of the transportation company's stock after acquiring an additional 33,261 shares during the quarter. Weiss Asset Management LP owned 0.27% of Forward Air worth $2,790,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in Forward Air during the 3rd quarter valued at $39,000. Point72 DIFC Ltd bought a new stake in Forward Air during the 2nd quarter valued at $26,000. Gladius Capital Management LP raised its holdings in Forward Air by 33.5% during the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company's stock valued at $37,000 after buying an additional 493 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Forward Air by 62.2% during the 3rd 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 during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company's stock valued at $38,000 after buying an additional 1,910 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FWRD. StockNews.com upgraded shares of Forward Air to a "sell" rating in a report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the company a "buy" rating in a report on Friday, October 18th. Stifel Nicolaus upped their price objective on shares of Forward Air from $31.00 to $36.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Finally, Benchmark restated a "hold" rating on shares of Forward Air in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Forward Air has a consensus rating of "Hold" and an average target price of $39.25.

Forward Air Stock Up 0.4 %

Shares of NASDAQ:FWRD traded up $0.15 during midday trading on Friday, reaching $33.91. The company's stock had a trading volume of 664,293 shares, compared to its average volume of 536,687. The firm has a 50 day moving average of $35.99 and a 200-day moving average of $28.99. The firm has a market capitalization of $981.55 million, a P/E ratio of -1.42 and a beta of 1.02. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20.

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.