Littlejohn & Co. LLC Sells 574,049 Shares of Forward Air Co. (NASDAQ:FWRD)

Littlejohn & Co. LLC decreased its position in shares of Forward Air Co. (NASDAQ:FWRD) by 25.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,665,660 shares of the transportation company’s stock after selling 574,049 shares during the period. Forward Air accounts for about 29.8% of Littlejohn & Co. LLC’s holdings, making the stock its largest position. Littlejohn & Co. LLC owned 0.06% of Forward Air worth $58,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in Forward Air in the third quarter valued at approximately $39,000. Point72 DIFC Ltd purchased a new position in shares of Forward Air during the second quarter worth about $26,000. Gladius Capital Management LP increased its holdings in shares of Forward Air by 33.5% in the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 493 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Forward Air by 62.2% in 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 last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after buying an additional 1,910 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Forward Air Stock Up 0.6 %

Shares of NASDAQ:FWRD opened at $35.88 on Monday. 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 stock’s 50-day moving average price is $36.17 and its two-hundred day moving average price is $27.65. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20.

Analysts Set New Price Targets

A number of analysts have weighed in on FWRD shares. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird lifted their target price on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Stifel Nicolaus boosted their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Benchmark restated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Finally, StockNews.com raised Forward Air to a “sell” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Forward Air presently has a consensus rating of “Hold” and a consensus price target of $39.25.

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.