AlpInvest Partners B.V. Invests $3.97 Million in Forward Air Co. (NASDAQ:FWRD)

AlpInvest Partners B.V. purchased a new position in Forward Air Co. (NASDAQ:FWRD) in the third quarter, Holdings Channel.com reports. The firm purchased 103,330 shares of the transportation company’s stock, valued at approximately $3,969,000. Forward Air comprises 2.3% of AlpInvest Partners B.V.’s investment portfolio, making the stock its 10th largest position.

Other large investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of Forward Air in the third quarter worth approximately $39,000. Point72 DIFC Ltd bought a new stake in Forward Air during the second quarter valued at approximately $26,000. Gladius Capital Management LP grew its position in Forward Air by 33.5% during the second 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 period. Nisa Investment Advisors LLC grew its position in Forward Air by 62.2% during the third 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 period. Finally, GAMMA Investing LLC grew its position in Forward Air by 2,329.3% during the second 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 period. 97.03% of the stock is currently owned by institutional investors.

Forward Air Price Performance

Shares of FWRD traded up $1.45 during mid-day trading on Wednesday, reaching $34.47. The stock had a trading volume of 370,911 shares, compared to its average volume of 1,001,491. The firm has a market cap of $997.91 million, a price-to-earnings ratio of -1.45 and a beta of 1.02. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $67.20. The business has a fifty day moving average of $36.09 and a 200 day moving average of $27.34. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

Analyst Upgrades and Downgrades

FWRD has been the subject of several recent research reports. Benchmark restated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. StockNews.com upgraded shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their target price on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Robert W. Baird upped their price target on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $39.25.

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.