56,786 Shares in Forward Air Corporation $FWRD Bought by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in Forward Air Corporation (NASDAQ:FWRD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,786 shares of the transportation company’s stock, valued at approximately $767,000. Freestone Grove Partners LP owned approximately 0.18% of Forward Air as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new stake in shares of Forward Air in the first quarter valued at about $3,535,000. Dimensional Fund Advisors LP grew its position in Forward Air by 108.7% during the first quarter. Dimensional Fund Advisors LP now owns 318,858 shares of the transportation company’s stock worth $5,328,000 after buying an additional 166,084 shares during the period. Cibc World Market Inc. purchased a new position in Forward Air in the second quarter valued at about $14,485,000. AlpInvest Partners B.V. purchased a new position in Forward Air in the second quarter valued at about $1,396,000. Finally, Deutsche Bank AG purchased a new position in Forward Air in the second quarter valued at about $8,293,000. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Trading Down 4.0%

Shares of FWRD stock opened at $16.99 on Friday. The firm has a 50-day moving average price of $15.51 and a 200 day moving average price of $16.94. Forward Air Corporation has a twelve month low of $7.86 and a twelve month high of $31.30. The company has a market capitalization of $537.22 million, a price-to-earnings ratio of -1.91 and a beta of 1.36. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 13.98.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FWRD. Weiss Ratings lowered Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Zacks Research raised Forward Air from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Stifel Nicolaus lifted their price objective on Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Forward Air from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Susquehanna boosted their target price on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.