Quantinno Capital Management LP Invests $224,000 in Forward Air Co. (NASDAQ:FWRD)

Quantinno Capital Management LP purchased a new stake in Forward Air Co. (NASDAQ:FWRD) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 6,334 shares of the transportation company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. acquired a new stake in shares of Forward Air during the third quarter worth $3,866,000. Atom Investors LP bought a new position in Forward Air during the third quarter worth about $865,000. Bardin Hill Management Partners LP acquired a new stake in Forward Air in the 3rd quarter worth about $1,458,000. Paloma Partners Management Co bought a new stake in Forward Air in the 3rd quarter valued at about $901,000. Finally, Verition Fund Management LLC grew its position in shares of Forward Air by 1,481.6% during the 3rd 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. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $32.15 on Tuesday. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $67.20. The stock has a market capitalization of $930.87 million, a price-to-earnings ratio of -1.35 and a beta of 1.02. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The company’s 50 day simple moving average is $35.73 and its 200 day simple moving average is $29.92.

Wall Street Analyst Weigh In

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

About Forward Air

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.