Diametric Capital LP Sells 13,235 Shares of Forward Air Co. (NASDAQ:FWRD)

Diametric Capital LP cut its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 53.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,546 shares of the transportation company’s stock after selling 13,235 shares during the period. Diametric Capital LP’s holdings in Forward Air were worth $372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in Forward Air during the 4th quarter worth about $11,140,000. JPMorgan Chase & Co. raised its stake in shares of Forward Air by 688.6% in the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after acquiring an additional 285,465 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Forward Air by 2,430.4% during the third quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company’s stock worth $4,703,000 after purchasing an additional 127,596 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of Forward Air during the third quarter valued at approximately $3,866,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Forward Air by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock valued at $24,376,000 after purchasing an additional 79,960 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FWRD has been the topic of a number of recent research reports. Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Stifel Nicolaus lifted their price objective on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Susquehanna dropped their price objective on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a report on Monday. Finally, Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.75.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $19.59 on Wednesday. The firm’s 50 day simple moving average is $26.15 and its 200 day simple moving average is $31.68. 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 capitalization of $595.59 million, a price-to-earnings ratio of -0.82 and a beta of 1.08. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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.