Forward Air Co. (NASDAQ:FWRD) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Forward Air Co. (NASDAQ:FWRD) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,166 shares of the transportation company’s stock after selling 495 shares during the quarter. Amalgamated Bank’s holdings in Forward Air were worth $175,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. grew its position in shares of Forward Air by 712.5% during the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock worth $12,965,000 after buying an additional 597,120 shares in the last quarter. American Century Companies Inc. grew its position in shares of Forward Air by 3.3% during the second quarter. American Century Companies Inc. now owns 45,734 shares of the transportation company’s stock worth $871,000 after buying an additional 1,478 shares in the last quarter. Private Management Group Inc. lifted its stake in Forward Air by 34.1% during the second quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company’s stock worth $25,451,000 after purchasing an additional 339,982 shares during the last quarter. Paralel Advisors LLC lifted its stake in Forward Air by 47.1% during the second quarter. Paralel Advisors LLC now owns 750,000 shares of the transportation company’s stock worth $14,280,000 after purchasing an additional 240,000 shares during the last quarter. Finally, Naviter Wealth LLC bought a new position in Forward Air during the second quarter worth $246,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

FWRD has been the topic of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Monday, August 12th. Robert W. Baird lifted their target price on Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Forward Air currently has an average rating of “Hold” and a consensus target price of $51.00.

Forward Air Trading Down 0.1 %

Shares of NASDAQ FWRD opened at $35.40 on Tuesday. Forward Air Co. has a one year low of $11.21 and a one year high of $79.51. The firm has a market capitalization of $935.91 million, a PE ratio of 10.35 and a beta of 1.02. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 4.70. The business has a 50-day moving average price of $30.39 and a two-hundred day moving average price of $24.78.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings results on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($23.11). The firm had revenue of $643.67 million for the quarter, compared to analyst estimates of $642.92 million. Forward Air had a negative net margin of 30.77% and a negative return on equity of 79.11%. The firm’s quarterly revenue was up 92.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, analysts predict that Forward Air Co. will post -1.01 earnings per share for the current fiscal year.

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.