Fmr LLC Sells 18,505 Shares of Forward Air Co. (NASDAQ:FWRD)

Fmr LLC cut its stake in Forward Air Co. (NASDAQ:FWRD) by 76.3% in the 3rd quarter, Holdings Channel reports. The firm owned 5,750 shares of the transportation company’s stock after selling 18,505 shares during the period. Fmr LLC’s holdings in Forward Air were worth $204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in Forward Air during the third quarter worth about $813,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Forward Air during the third quarter valued at approximately $298,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Forward Air by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock valued at $23,926,000 after purchasing an additional 28,669 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Forward Air in the 3rd quarter worth approximately $437,000. Finally, AlpInvest Partners B.V. purchased a new stake in shares of Forward Air in the 3rd quarter worth approximately $3,969,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Stock Down 6.3 %

FWRD opened at $28.93 on Friday. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $67.20. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm has a 50-day simple moving average of $35.28 and a two-hundred day simple moving average of $30.13. The company has a market capitalization of $837.64 million, a PE ratio of -1.21 and a beta of 1.02.

Analyst Ratings Changes

FWRD has been the topic of several recent analyst reports. StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Stifel Nicolaus increased their price target on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.