Forward Air Co. (NASDAQ:FWRD) Stake Increased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lifted its holdings in Forward Air Co. (NASDAQ:FWRD) by 112.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,743 shares of the transportation company’s stock after buying an additional 66,518 shares during the period. ExodusPoint Capital Management LP owned about 0.43% of Forward Air worth $4,055,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Byrne Asset Management LLC boosted its stake in shares of Forward Air by 122.9% during the 4th 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 period. AlphaQuest LLC boosted its position in Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after purchasing an additional 1,782 shares during the last quarter. Quantinno Capital Management LP purchased a new position in Forward Air in the third quarter valued at about $224,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Forward Air during the 4th quarter worth about $235,000. Finally, Wolverine Asset Management LLC lifted its holdings in shares of Forward Air by 129.6% during the 4th quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company’s stock valued at $276,000 after buying an additional 37,461 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ:FWRD opened at $13.12 on Monday. The firm has a market capitalization of $398.89 million, a PE ratio of -0.55 and a beta of 1.11. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $40.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm’s fifty day simple moving average is $25.10 and its 200 day simple moving average is $31.27.

Analyst Ratings Changes

Several equities analysts recently weighed in on FWRD shares. Susquehanna cut their price objective on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research report on Monday, March 31st. Benchmark restated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Robert W. Baird decreased their price objective on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Stifel Nicolaus raised their target price on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Forward Air has an average rating of “Hold” and an average target price of $35.75.

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.