Bryce Point Capital LLC Invests $595,000 in Forward Air Co. (NASDAQ:FWRD)

Bryce Point Capital LLC acquired a new stake in Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,436 shares of the transportation company’s stock, valued at approximately $595,000. Bryce Point Capital LLC owned 0.06% of Forward Air as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FWRD. Charles Schwab Investment Management Inc. raised its holdings in shares of Forward Air by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock worth $23,926,000 after acquiring an additional 28,669 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Forward Air by 2,430.4% in the third quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company’s stock worth $4,703,000 after acquiring an additional 127,596 shares in the last quarter. Atom Investors LP purchased a new position in shares of Forward Air in the 3rd quarter valued at $865,000. Polar Asset Management Partners Inc. acquired a new position in shares of Forward Air during the 3rd quarter valued at $3,866,000. Finally, Quantinno Capital Management LP purchased a new stake in Forward Air during the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $20.74 on Thursday. The stock has a market cap of $630.56 million, a price-to-earnings ratio of -0.87 and a beta of 1.08. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $40.92. The stock’s 50 day moving average price is $25.88 and its 200 day moving average price is $31.60.

Analysts Set New Price Targets

Several research analysts have commented on the company. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Susquehanna reduced their target price on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research report on Monday. Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Stifel Nicolaus raised their price objective on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $35.75.

About Forward Air

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.