Public Sector Pension Investment Board Sells 29,400 Shares of Forward Air Co. (NASDAQ:FWRD)

Public Sector Pension Investment Board trimmed its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 42.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,567 shares of the transportation company’s stock after selling 29,400 shares during the period. Public Sector Pension Investment Board owned approximately 0.14% of Forward Air worth $1,436,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Point72 DIFC Ltd bought a new position in Forward Air during the second quarter worth $26,000. Gladius Capital Management LP increased its stake 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 purchasing an additional 493 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock valued at $38,000 after purchasing an additional 1,910 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Forward Air during the 3rd quarter worth about $39,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of 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 period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Trading Up 0.4 %

Shares of Forward Air stock opened at $33.91 on Friday. The company has a market capitalization of $981.69 million, a P/E ratio of -1.42 and a beta of 1.02. The stock has a fifty day simple moving average of $35.99 and a 200 day simple moving average of $28.87. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07.

Wall Street Analysts Forecast Growth

FWRD has been the topic of several recent research reports. StockNews.com upgraded Forward Air to a “sell” rating in a report on Wednesday, November 6th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Stifel Nicolaus boosted their price target on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research note on Friday, October 18th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.25.

Forward Air 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.