7,444 Shares in Forward Air Co. (NASDAQ:FWRD) Bought by ProShare Advisors LLC

ProShare Advisors LLC purchased a new position in Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,444 shares of the transportation company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FWRD. State of Alaska Department of Revenue grew its stake in 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 worth $366,000 after purchasing an additional 447 shares during the period. Byrne Asset Management LLC grew its stake in Forward Air by 122.9% in the fourth 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 during the period. Louisiana State Employees Retirement System grew its stake in Forward Air by 5.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company’s stock worth $313,000 after purchasing an additional 500 shares during the period. Legato Capital Management LLC purchased a new stake in Forward Air in the fourth quarter worth $745,000. Finally, Principal Financial Group Inc. boosted its holdings in Forward Air by 7.3% in the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company’s stock worth $3,133,000 after acquiring an additional 6,629 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Trading Down 3.1%

Forward Air stock opened at $16.52 on Friday. 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 one year low of $9.79 and a one year high of $40.92. The stock has a market capitalization of $502.59 million, a PE ratio of -0.69 and a beta of 1.24. The business’s fifty day moving average is $16.39 and its 200 day moving average is $25.36.

Analyst Ratings Changes

Several research firms have commented on FWRD. Robert W. Baird dropped their target price on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus dropped their target price on Forward Air from $29.00 to $22.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Finally, Susquehanna dropped their target price on Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.25.

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.