Quantbot Technologies LP Makes New $813,000 Investment in Forward Air Co. (NASDAQ:FWRD)

Quantbot Technologies LP purchased a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the third quarter, Holdings Channel reports. The fund purchased 22,956 shares of the transportation company’s stock, valued at approximately $813,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 DIFC Ltd bought a new position in Forward Air during the second quarter valued at about $26,000. Gladius Capital Management LP increased its holdings in shares of Forward Air by 33.5% during the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Forward Air by 2,329.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after purchasing an additional 1,910 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in Forward Air in the 3rd quarter worth approximately $39,000. Finally, Nisa Investment Advisors LLC boosted its position in Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Trading Up 1.9 %

Shares of FWRD opened at $36.69 on Monday. The stock’s 50-day moving average price is $36.16 and its 200 day moving average price is $28.27. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.54 and a beta of 1.02.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FWRD shares. Stifel Nicolaus boosted their price objective on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com upgraded Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Robert W. Baird increased their price objective on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research 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 stock. Based on data from MarketBeat.com, Forward Air has a consensus rating of “Hold” and an average price target of $39.25.

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.