Anchor Investment Management LLC Lowers Stock Position in Forward Air Co. (NASDAQ:FWRD)

Anchor Investment Management LLC reduced its position in shares of Forward Air Co. (NASDAQ:FWRD) by 22.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,190 shares of the transportation company’s stock after selling 340 shares during the period. Anchor Investment Management LLC’s holdings in Forward Air were worth $42,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clearlake Capital Group L.P. lifted its position in shares of Forward Air by 255.2% during the 2nd quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock worth $72,828,000 after buying an additional 2,747,994 shares in the last quarter. Private Management Group Inc. increased its position in shares of Forward Air by 34.1% during the second quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company’s stock valued at $25,451,000 after acquiring an additional 339,982 shares during the last quarter. MFN Partners Management LP bought a new stake in Forward Air during the second quarter worth $17,208,000. Paralel Advisors LLC boosted its position in Forward Air by 47.1% in the second quarter. Paralel Advisors LLC now owns 750,000 shares of the transportation company’s stock worth $14,280,000 after purchasing an additional 240,000 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after purchasing an additional 597,120 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Forward Air Stock Down 2.0 %

Shares of NASDAQ FWRD opened at $32.84 on Friday. The business’s fifty day moving average price is $35.84 and its 200-day moving average price is $29.71. Forward Air Co. has a one year low of $11.21 and a one year high of $67.20. The stock has a market capitalization of $950.85 million, a PE ratio of -1.38 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.

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.