Atom Investors LP Acquires Shares of 24,442 Forward Air Co. (NASDAQ:FWRD)

Atom Investors LP bought a new position in shares of Forward Air Co. (NASDAQ:FWRDFree Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,442 shares of the transportation company’s stock, valued at approximately $865,000. Atom Investors LP owned about 0.08% of Forward Air at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FWRD. Clearlake Capital Group L.P. lifted its holdings in Forward Air by 255.2% during the 2nd quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock valued at $72,828,000 after buying an additional 2,747,994 shares in the last quarter. Ridgemont Partners Management LLC raised its stake in shares of Forward Air by 172.7% during the second quarter. Ridgemont Partners Management LLC now owns 1,910,615 shares of the transportation company’s stock valued at $36,378,000 after acquiring an additional 1,210,006 shares in the last quarter. MFN Partners Management LP purchased a new stake in shares of Forward Air in the second quarter valued at approximately $17,208,000. Federated Hermes Inc. grew its stake in Forward Air by 712.5% in the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock worth $12,965,000 after purchasing an additional 597,120 shares in the last quarter. Finally, Goldentree Asset Management LP purchased a new position in Forward Air during the 3rd quarter worth $14,270,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on FWRD shares. 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. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Stifel Nicolaus boosted their price target 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. Robert W. Baird increased their price objective on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, StockNews.com raised shares of Forward Air to a “sell” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $39.25.

Get Our Latest Analysis on FWRD

Forward Air Trading Down 4.5 %

NASDAQ FWRD opened at $34.39 on Wednesday. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $67.20. The company has a 50 day moving average price of $36.09 and a 200 day moving average price of $28.66. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm has a market cap of $995.59 million, a PE ratio of -1.44 and a beta of 1.02.

About Forward Air

(Free Report)

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.

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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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