Forward Air Co. (NASDAQ:FWRD) Shares Purchased by Sugar Maple Asset Management LLC

Sugar Maple Asset Management LLC increased its position in Forward Air Co. (NASDAQ:FWRD) by 24.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 20,900 shares of the transportation company’s stock after purchasing an additional 4,100 shares during the period. Sugar Maple Asset Management LLC owned about 0.07% of Forward Air worth $674,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FWRD. Northwest Investment Counselors LLC acquired a new stake in shares of Forward Air in the 3rd quarter valued at $39,000. Point72 DIFC Ltd acquired a new stake in shares of Forward Air in the 2nd quarter valued at $26,000. Nisa Investment Advisors LLC lifted its stake in shares of Forward Air by 62.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 763 shares during the last quarter. GAMMA Investing LLC raised its holdings in Forward Air by 89.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after acquiring an additional 1,776 shares during the period. Finally, Quantinno Capital Management LP bought a new position in Forward Air in the 3rd quarter worth $224,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Stock Up 2.5 %

FWRD stock opened at $33.89 on Tuesday. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $61.42. The company’s 50-day moving average price is $33.26 and its two-hundred day moving average price is $32.04.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus boosted their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Forward Air presently has an average rating of “Hold” and an average price target of $35.67.

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.