Bank of New York Mellon Corp lessened its position in shares of Forward Air Co. (NASDAQ:FWRD – Free Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 206,864 shares of the transportation company’s stock after selling 17,770 shares during the period. Bank of New York Mellon Corp owned approximately 0.71% of Forward Air worth $6,671,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Forward Air by 688.6% in the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock valued at $11,573,000 after buying an additional 285,465 shares during the period. Goldentree Asset Management LP acquired a new position in shares of Forward Air during the third quarter worth $14,270,000. Verition Fund Management LLC increased its holdings in shares of Forward Air by 1,481.6% during the third quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock worth $7,377,000 after buying an additional 195,220 shares in the last quarter. Weiss Asset Management LP increased its holdings in Forward Air by 73.0% in the third quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company’s stock valued at $2,790,000 after purchasing an additional 33,261 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Forward Air in the fourth quarter valued at $11,140,000. Institutional investors own 97.03% of the company’s stock.
Forward Air Stock Up 5.9 %
Forward Air stock opened at $19.99 on Monday. The firm has a 50 day simple moving average of $29.14 and a 200 day simple moving average of $32.70. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $40.92. The firm has a market capitalization of $578.79 million, a price-to-earnings ratio of -0.84 and a beta of 1.08.
Analyst Ratings Changes
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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.
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