GAMMA Investing LLC Acquires 1,776 Shares of Forward Air Co. (NASDAQ:FWRD)

GAMMA Investing LLC grew its stake in Forward Air Co. (NASDAQ:FWRD) by 89.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,768 shares of the transportation company’s stock after purchasing an additional 1,776 shares during the period. GAMMA Investing LLC’s holdings in Forward Air were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FWRD. Point72 DIFC Ltd bought a new position in shares of Forward Air during the second quarter valued at $26,000. Gladius Capital Management LP boosted its position in Forward Air by 33.5% in the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after buying an additional 493 shares in the last quarter. Headlands Technologies LLC grew its stake in Forward Air by 98.5% during the first quarter. Headlands Technologies LLC now owns 1,634 shares of the transportation company’s stock worth $51,000 after buying an additional 811 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of Forward Air by 36.2% during the first quarter. EntryPoint Capital LLC now owns 3,220 shares of the transportation company’s stock worth $100,000 after buying an additional 856 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Forward Air by 33.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,218 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 1,803 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FWRD. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Robert W. Baird lifted their price target on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Forward Air Stock Up 3.1 %

Shares of FWRD opened at $36.72 on Friday. The business’s fifty day moving average price is $32.36 and its two-hundred day moving average price is $25.29. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.76 and a beta of 1.02. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $79.51. The company has a debt-to-equity ratio of 4.70, a quick ratio of 1.33 and a current ratio of 1.33.

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

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.