Fmr LLC Sells 18,505 Shares of Forward Air Co. (NASDAQ:FWRD)

Fmr LLC trimmed its position in Forward Air Co. (NASDAQ:FWRD) by 76.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,750 shares of the transportation company’s stock after selling 18,505 shares during the period. Fmr LLC’s holdings in Forward Air were worth $204,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in Forward Air during the 3rd quarter worth approximately $39,000. Point72 DIFC Ltd acquired a new position in shares of Forward Air during the second quarter worth $26,000. Nisa Investment Advisors LLC lifted its holdings in shares of Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after purchasing an additional 763 shares during the period. 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. Finally, LMR Partners LLP acquired a new stake in Forward Air in the third quarter valued at $232,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FWRD shares. Stifel Nicolaus increased their price target on Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.25.

Forward Air Stock Down 6.3 %

FWRD opened at $28.93 on Friday. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $67.20. The company has a market cap of $837.64 million, a PE ratio of -1.21 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 company has a 50 day moving average of $35.28 and a 200 day moving average of $30.13.

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.