Duality Advisers LP Increases Stake in Forward Air Co. (NASDAQ:FWRD)

Duality Advisers LP grew its position in shares of Forward Air Co. (NASDAQ:FWRD) by 156.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,282 shares of the transportation company’s stock after buying an additional 61,235 shares during the quarter. Duality Advisers LP owned 0.38% of Forward Air worth $3,120,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Forward Air by 413.5% during the 1st quarter. UMB Bank n.a. now owns 837 shares of the transportation company’s stock worth $26,000 after buying an additional 674 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Forward Air during the 4th quarter worth $52,000. TFO Wealth Partners LLC grew its stake in shares of Forward Air by 116,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,163 shares of the transportation company’s stock worth $73,000 after purchasing an additional 1,162 shares during the period. Spire Wealth Management acquired a new position in shares of Forward Air during the 1st quarter worth $75,000. Finally, Rocky Mountain Advisers LLC acquired a new position in shares of Forward Air during the 1st quarter worth $93,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Trading Up 10.8 %

NASDAQ FWRD traded up $2.32 during mid-day trading on Friday, hitting $23.75. The company’s stock had a trading volume of 835,674 shares, compared to its average volume of 1,119,973. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $121.38. The stock’s fifty day simple moving average is $18.13 and its two-hundred day simple moving average is $31.75. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $627.95 million, a P/E ratio of 6.61 and a beta of 1.00.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, May 8th. The transportation company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.49). Forward Air had a net margin of 4.08% and a return on equity of 5.37%. The firm had revenue of $541.81 million during the quarter, compared to analyst estimates of $644.00 million. During the same period last year, the business earned $1.37 EPS. Research analysts expect that Forward Air Co. will post -0.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FWRD shares. Wolfe Research raised shares of Forward Air from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, May 28th. Robert W. Baird upped their target price on shares of Forward Air from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 3rd. Benchmark restated a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Finally, StockNews.com lowered shares of Forward Air from a “hold” rating to a “sell” rating in a report on Monday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Forward Air currently has a consensus rating of “Hold” and a consensus target price of $76.86.

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.