Inspire Investing LLC Sells 6,933 Shares of Forward Air Co. (NASDAQ:FWRD)

Inspire Investing LLC trimmed its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 37.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,513 shares of the transportation company’s stock after selling 6,933 shares during the quarter. Inspire Investing LLC’s holdings in Forward Air were worth $408,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of FWRD. GAMMA Investing LLC grew its stake in shares of Forward Air by 89.2% in the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after purchasing an additional 1,776 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Forward Air in the 2nd quarter valued at about $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Forward Air in the 2nd quarter valued at about $181,000. Point72 Asset Management L.P. increased its stake in shares of Forward Air by 11,740.6% in the second quarter. Point72 Asset Management L.P. now owns 372,500 shares of the transportation company’s stock valued at $7,092,000 after buying an additional 375,700 shares during the period. Finally, Luxor Capital Group LP bought a new position in shares of Forward Air during the second quarter worth about $1,394,000. Institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

FWRD has been the subject of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday. Finally, Robert W. Baird lifted their target price 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.20.

Forward Air Stock Down 1.2 %

Forward Air stock opened at $39.66 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 4.70. The company has a market capitalization of $1.05 billion, a PE ratio of 11.60 and a beta of 1.02. The firm’s fifty day moving average is $33.77 and its 200 day moving average is $25.59. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $77.55.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings data on Wednesday, August 7th. The transportation company reported ($23.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($23.11). Forward Air had a negative return on equity of 79.11% and a negative net margin of 30.77%. The company had revenue of $643.67 million for the quarter, compared to the consensus estimate of $642.92 million. During the same period last year, the company earned $0.91 EPS. Forward Air’s revenue for the quarter was up 92.9% compared to the same quarter last year. As a group, sell-side analysts predict that Forward Air Co. will post -1.01 EPS for the current fiscal year.

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.