Forward Air Corporation $FWRD Stock Holdings Increased by Quantbot Technologies LP

Quantbot Technologies LP increased its stake in shares of Forward Air Corporation (NASDAQ:FWRD) by 43.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,773 shares of the transportation company’s stock after purchasing an additional 16,659 shares during the quarter. Quantbot Technologies LP’s holdings in Forward Air were worth $1,100,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Littlejohn & Co. LLC boosted its holdings in shares of Forward Air by 70.1% during the first quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company’s stock worth $56,541,000 after purchasing an additional 1,159,747 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Forward Air by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,050,268 shares of the transportation company’s stock worth $41,190,000 after purchasing an additional 6,702 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Forward Air by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 761,231 shares of the transportation company’s stock worth $15,293,000 after purchasing an additional 5,388 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Forward Air by 742.9% during the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company’s stock worth $14,951,000 after purchasing an additional 408,600 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Forward Air by 17.3% during the fourth quarter. Northern Trust Corp now owns 295,226 shares of the transportation company’s stock worth $9,521,000 after purchasing an additional 43,567 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Price Performance

Shares of FWRD opened at $30.87 on Friday. The firm has a market cap of $950.49 million, a PE ratio of -5.15 and a beta of 1.43. The firm’s 50 day moving average price is $27.48 and its 200 day moving average price is $22.40. The company has a debt-to-equity ratio of 7.91, a quick ratio of 1.20 and a current ratio of 1.20. Forward Air Corporation has a twelve month low of $9.78 and a twelve month high of $40.92.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Monday, August 11th. The transportation company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.24). Forward Air had a negative net margin of 6.86% and a negative return on equity of 40.36%. The business had revenue of $618.84 million for the quarter, compared to the consensus estimate of $627.98 million. During the same period in the previous year, the business posted ($23.29) EPS. Forward Air’s revenue was down 3.9% compared to the same quarter last year. As a group, research analysts expect that Forward Air Corporation will post -0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on FWRD. Stifel Nicolaus raised their price target on shares of Forward Air from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Susquehanna raised their price objective on shares of Forward Air from $40.00 to $43.00 and gave the company a “positive” rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Forward Air currently has an average rating of “Moderate Buy” and an average price target of $37.75.

Forward Air 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.