LMR Partners LLP Takes $232,000 Position in Forward Air Co. (NASDAQ:FWRD)

LMR Partners LLP bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,543 shares of the transportation company’s stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FWRD. Clearlake Capital Group L.P. grew its stake in Forward Air by 255.2% in the second quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock worth $72,828,000 after purchasing an additional 2,747,994 shares in the last quarter. Ridgemont Partners Management LLC grew its stake in Forward Air by 172.7% in the second quarter. Ridgemont Partners Management LLC now owns 1,910,615 shares of the transportation company’s stock worth $36,378,000 after purchasing an additional 1,210,006 shares in the last quarter. MFN Partners Management LP bought a new position in Forward Air in the second quarter worth approximately $17,208,000. Federated Hermes Inc. grew its stake in Forward Air by 712.5% in the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock worth $12,965,000 after purchasing an additional 597,120 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Forward Air by 14.2% in the first quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock worth $106,017,000 after purchasing an additional 424,924 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Forward Air Trading Up 1.4 %

Shares of FWRD opened at $34.94 on Thursday. 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 12-month low of $11.21 and a 12-month high of $67.20. The firm has a 50-day moving average price of $36.13 and a 200 day moving average price of $27.40. The firm has a market capitalization of $1.01 billion, a P/E ratio of -1.47 and a beta of 1.02.

Wall Street Analyst Weigh In

FWRD has been the subject of several analyst reports. Jefferies Financial Group set a $47.00 price objective on Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. Stifel Nicolaus upped their price objective on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. Finally, Robert W. Baird increased their target price on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.25.

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.