Amundi Purchases 5,540 Shares of Forward Air Co. (NASDAQ:FWRD)

Amundi boosted its position in shares of Forward Air Co. (NASDAQ:FWRD) by 149.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,257 shares of the transportation company’s stock after buying an additional 5,540 shares during the period. Amundi’s holdings in Forward Air were worth $296,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Byrne Asset Management LLC boosted its stake in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock valued at $35,000 after buying an additional 590 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in Forward Air during the third quarter valued at approximately $224,000. Dynamic Technology Lab Private Ltd purchased a new stake in Forward Air during the third quarter valued at approximately $298,000. Wolverine Asset Management LLC raised its position in Forward Air by 129.6% during the fourth quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company’s stock valued at $276,000 after purchasing an additional 37,461 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Forward Air during the third quarter valued at approximately $325,000. 97.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FWRD. Benchmark restated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Robert W. Baird decreased their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Stifel Nicolaus upped their price objective on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.00.

Forward Air Trading Up 0.2 %

Shares of NASDAQ FWRD opened at $21.25 on Friday. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The business’s 50 day moving average price is $28.01 and its 200-day moving average price is $32.30. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $40.92. The company has a market cap of $615.27 million, a price-to-earnings ratio of -0.89 and a beta of 1.08.

Forward Air Company 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.