Intech Investment Management LLC Has $1.43 Million Stock Holdings in Forward Air Co. (NASDAQ:FWRD)

Intech Investment Management LLC grew its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 260.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,476 shares of the transportation company’s stock after buying an additional 32,139 shares during the quarter. Intech Investment Management LLC’s holdings in Forward Air were worth $1,434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Byrne Asset Management LLC increased its holdings in Forward Air by 122.9% during the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 590 shares in the last quarter. AlphaQuest LLC boosted its position in shares of Forward Air by 155.9% during the fourth quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after buying an additional 1,782 shares during the last quarter. Quantinno Capital Management LP bought a new stake in Forward Air during the third quarter worth $224,000. Wolverine Asset Management LLC lifted its stake in Forward Air by 129.6% during the 4th quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company’s stock valued at $276,000 after acquiring an additional 37,461 shares in the last quarter. Finally, Amundi boosted its holdings in Forward Air by 149.0% during the 4th quarter. Amundi now owns 9,257 shares of the transportation company’s stock worth $296,000 after acquiring an additional 5,540 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Stock Performance

Shares of FWRD 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. The firm has a market cap of $615.27 million, a price-to-earnings ratio of -0.89 and a beta of 1.08. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $40.92. The firm’s 50-day simple moving average is $28.01 and its two-hundred day simple moving average is $32.30.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stifel Nicolaus increased their target price on shares of Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird dropped their target price on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Finally, Benchmark reaffirmed a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. One equities research 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, the company has an average rating of “Hold” and a consensus target price 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.