Proficio Capital Partners LLC Invests $815,000 in Forward Air Co. (NASDAQ:FWRD)

Proficio Capital Partners LLC acquired a new position in shares of Forward Air Co. (NASDAQ:FWRD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 25,284 shares of the transportation company’s stock, valued at approximately $815,000. Proficio Capital Partners LLC owned about 0.09% of Forward Air at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FWRD. Goldentree Asset Management LP bought a new position in shares of Forward Air during the third quarter worth about $14,270,000. Assenagon Asset Management S.A. bought a new stake in Forward Air in the fourth quarter worth approximately $11,140,000. JPMorgan Chase & Co. increased its holdings in Forward Air by 688.6% in the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after purchasing an additional 285,465 shares in the last quarter. Verition Fund Management LLC increased its holdings in Forward Air by 1,481.6% in the third quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock worth $7,377,000 after purchasing an additional 195,220 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Forward Air by 2,430.4% in the third quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company’s stock worth $4,703,000 after purchasing an additional 127,596 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Trading Up 0.2 %

Shares of Forward Air stock opened at $21.25 on Friday. 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 52 week low of $11.21 and a 52 week high of $40.92. The stock has a 50 day moving average price of $28.01 and a two-hundred day moving average price of $32.30. The stock has a market capitalization of $615.27 million, a PE ratio of -0.89 and a beta of 1.08.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Robert W. Baird lowered their target price on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, Stifel Nicolaus lifted their target price on Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.00.

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.