Forward Air Co. (NASDAQ:FWRD) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC raised its holdings in Forward Air Co. (NASDAQ:FWRD) by 1,481.6% during the third quarter, HoldingsChannel reports. The firm owned 208,396 shares of the transportation company’s stock after buying an additional 195,220 shares during the period. Verition Fund Management LLC’s holdings in Forward Air were worth $7,377,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Goldentree Asset Management LP acquired a new position in Forward Air in the 3rd quarter valued at about $14,270,000. BNP Paribas Financial Markets grew its stake in shares of Forward Air by 2,430.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company’s stock valued at $4,703,000 after purchasing an additional 127,596 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Forward Air in the third quarter valued at approximately $813,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Forward Air during the third quarter worth approximately $298,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Forward Air by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock worth $23,926,000 after purchasing an additional 28,669 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Price Performance

FWRD stock opened at $36.69 on Monday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -1.54 and a beta of 1.02. 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 has a 50 day moving average of $36.16 and a 200-day moving average of $28.27. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FWRD shares. Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Monday, August 12th. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. Robert W. Baird lifted their price objective on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. StockNews.com raised Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus upped their price objective on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 21st. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.