Intech Investment Management LLC Makes New $437,000 Investment in Forward Air Co. (NASDAQ:FWRD)

Intech Investment Management LLC acquired a new stake in Forward Air Co. (NASDAQ:FWRD) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,337 shares of the transportation company’s stock, valued at approximately $437,000.

Several other large investors have also modified their holdings of FWRD. Point72 DIFC Ltd acquired a new stake in Forward Air in the second quarter valued at $26,000. Gladius Capital Management LP lifted its stake in shares of Forward Air by 33.5% in the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 493 shares during the period. GAMMA Investing LLC boosted its holdings in Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after buying an additional 1,910 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Forward Air during the third quarter worth about $39,000. Finally, Nisa Investment Advisors LLC increased its holdings in Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after buying an additional 763 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $36.00 on Tuesday. The business’s 50-day simple moving average is $36.16 and its 200 day simple moving average is $28.37. The company has a market cap of $1.04 billion, a P/E ratio of -1.54 and a beta of 1.02. 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 one year low of $11.21 and a one year high of $67.20.

Analyst Ratings Changes

A number of research firms have commented on FWRD. Stifel Nicolaus boosted their target price on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com raised shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Robert W. Baird raised their price objective on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research note on Monday, August 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.