Private Management Group Inc. Reduces Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Private Management Group Inc. cut its holdings in Forward Air Co. (NASDAQ:FWRD) by 4.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 967,637 shares of the transportation company’s stock after selling 48,877 shares during the quarter. Forward Air makes up about 1.1% of Private Management Group Inc.’s holdings, making the stock its 25th largest holding. Private Management Group Inc.’s holdings in Forward Air were worth $31,206,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Investment Counselors LLC acquired a new position in shares of Forward Air during the third quarter valued at about $39,000. Nisa Investment Advisors LLC grew its position in Forward Air by 62.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares during the last quarter. GAMMA Investing LLC grew its position in Forward Air by 89.2% during the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after purchasing an additional 1,776 shares during the last quarter. Quantinno Capital Management LP purchased a new position in shares of Forward Air in the third quarter worth $224,000. Finally, LMR Partners LLP purchased a new position in shares of Forward Air in the third quarter worth $232,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. StockNews.com raised Forward Air to a “sell” rating in a report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.67.

Forward Air Stock Performance

NASDAQ FWRD opened at $31.63 on Thursday. The firm has a market capitalization of $915.69 million, a P/E ratio of -1.33 and a beta of 1.03. The stock has a 50-day simple moving average of $32.74 and a two-hundred day simple moving average of $32.87. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $44.70.

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.