Forward Air Co. (NASDAQ:FWRD) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Forward Air Co. (NASDAQ:FWRD) by 71.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 93,878 shares of the transportation company’s stock after selling 233,043 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Forward Air worth $3,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new stake in shares of Forward Air in the 3rd quarter valued at $325,000. Assenagon Asset Management S.A. acquired a new stake in shares of Forward Air during the fourth quarter worth about $11,140,000. Sugar Maple Asset Management LLC lifted its position in shares of Forward Air by 24.4% during the fourth quarter. Sugar Maple Asset Management LLC now owns 20,900 shares of the transportation company’s stock worth $674,000 after purchasing an additional 4,100 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of Forward Air by 9.5% in the fourth quarter. Inspire Investing LLC now owns 12,601 shares of the transportation company’s stock valued at $406,000 after purchasing an additional 1,088 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Forward Air by 4.1% in the fourth quarter. State of Alaska Department of Revenue now owns 11,354 shares of the transportation company’s stock valued at $366,000 after purchasing an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FWRD shares. Robert W. Baird reduced their target price on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Susquehanna reduced their price objective on Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus lowered their target price on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.25.

Forward Air Price Performance

Forward Air stock opened at $14.85 on Tuesday. The stock has a market cap of $451.48 million, a P/E ratio of -0.62 and a beta of 1.11. The company has a fifty day simple moving average of $20.28 and a 200-day simple moving average of $29.29. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 12-month low of $9.79 and a 12-month high of $40.92.

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.