Amalgamated Bank Has $210,000 Position in Forward Air Co. (NASDAQ:FWRD)

Amalgamated Bank reduced its stake in Forward Air Co. (NASDAQ:FWRD) by 35.4% during the third quarter, HoldingsChannel reports. The firm owned 5,921 shares of the transportation company’s stock after selling 3,245 shares during the quarter. Amalgamated Bank’s holdings in Forward Air were worth $210,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in shares of Forward Air in the 3rd quarter valued at approximately $39,000. Point72 DIFC Ltd bought a new position in Forward Air in the 2nd quarter valued at approximately $26,000. Gladius Capital Management LP raised its holdings in Forward Air by 33.5% in the 2nd 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 during the last quarter. Nisa Investment Advisors LLC raised its holdings in Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after buying an additional 763 shares during the last quarter. Finally, GAMMA Investing LLC raised 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 valued at $38,000 after buying an additional 1,910 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Stock Down 4.3 %

Forward Air stock opened at $34.52 on Monday. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.33 and a current ratio of 1.21. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $67.20. The firm has a 50 day moving average price of $36.05 and a two-hundred day moving average price of $27.17. The firm has a market cap of $999.35 million, a price-to-earnings ratio of -1.45 and a beta of 1.02.

Analyst Ratings Changes

A number of brokerages recently issued reports on FWRD. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Robert W. Baird raised their price objective on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Stifel Nicolaus raised their price objective 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. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.25.

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.