Quantbot Technologies LP Increases Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Quantbot Technologies LP grew its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 66.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,114 shares of the transportation company’s stock after acquiring an additional 15,158 shares during the period. Quantbot Technologies LP owned about 0.13% of Forward Air worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FWRD. Intech Investment Management LLC increased its stake in Forward Air by 260.5% in the 4th quarter. Intech Investment Management LLC now owns 44,476 shares of the transportation company’s stock worth $1,434,000 after buying an additional 32,139 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Forward Air by 2.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,442 shares of the transportation company’s stock valued at $498,000 after purchasing an additional 432 shares in the last quarter. Isthmus Partners LLC increased its position in Forward Air by 1.7% in the fourth quarter. Isthmus Partners LLC now owns 56,995 shares of the transportation company’s stock worth $1,838,000 after purchasing an additional 940 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in Forward Air during the fourth quarter valued at $2,487,000. Finally, AlphaQuest LLC lifted its position in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 1,782 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

Forward Air stock opened at $20.91 on Wednesday. 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 firm has a market capitalization of $605.43 million, a P/E ratio of -0.88 and a beta of 1.08. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $40.92. The company’s 50-day moving average is $27.49 and its 200 day moving average is $32.14.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FWRD. Stifel Nicolaus boosted their target price 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. Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, Robert W. Baird dropped their target price on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.00.

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.