Point72 Asset Management L.P. Boosts Stock Position in Forward Air Co. (NASDAQ:FWRD)

Point72 Asset Management L.P. boosted its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 742.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 463,600 shares of the transportation company’s stock after purchasing an additional 408,600 shares during the quarter. Point72 Asset Management L.P.’s holdings in Forward Air were worth $14,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FWRD. Sterling Capital Management LLC raised its stake in Forward Air by 812.5% during the 4th quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 715 shares during the period. Byrne Asset Management LLC raised its holdings in Forward Air by 122.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 590 shares during the period. AlphaQuest LLC raised its stake in shares of Forward Air by 155.9% in the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after acquiring an additional 1,782 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Forward Air in the fourth quarter valued at $138,000. Finally, Quantinno Capital Management LP boosted its holdings in Forward Air by 9.7% during the 4th quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company’s stock valued at $224,000 after acquiring an additional 615 shares during the period. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Up 1.5%

Shares of FWRD stock opened at $19.17 on Friday. The stock’s 50-day simple moving average is $17.04 and its 200-day simple moving average is $26.64. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $583.21 million, a PE ratio of -0.80 and a beta of 1.24. Forward Air Co. has a fifty-two week low of $9.79 and a fifty-two week high of $40.92.

Wall Street Analyst Weigh In

FWRD has been the topic of several research analyst reports. Robert W. Baird cut their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Stifel Nicolaus decreased their price objective on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Susquehanna decreased their price objective on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.25.

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.