GAMMA Investing LLC Purchases 42,914 Shares of Forward Air Co. (NASDAQ:FWRD)

GAMMA Investing LLC boosted its position in Forward Air Co. (NASDAQ:FWRD) by 1,194.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,508 shares of the transportation company’s stock after purchasing an additional 42,914 shares during the quarter. GAMMA Investing LLC owned approximately 0.15% of Forward Air worth $934,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in Forward Air in the fourth quarter worth about $815,000. Principal Financial Group Inc. increased its holdings in shares of Forward Air by 7.3% during the fourth quarter. Principal Financial Group Inc. now owns 97,148 shares of the transportation company’s stock valued at $3,133,000 after acquiring an additional 6,629 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock valued at $24,376,000 after acquiring an additional 79,960 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Forward Air during the fourth quarter valued at about $320,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Forward Air by 10.2% during the fourth quarter. Wells Fargo & Company MN now owns 30,042 shares of the transportation company’s stock valued at $969,000 after acquiring an additional 2,773 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $23.49 on Tuesday. 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 twelve month low of $9.79 and a twelve month high of $40.92. The company’s 50 day moving average is $16.96 and its 200 day moving average is $24.06. The company has a market cap of $714.64 million, a PE ratio of -0.99 and a beta of 1.29.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FWRD shares. Susquehanna cut their price objective on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a report on Monday, March 31st. Robert W. Baird cut their price objective 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. Finally, Stifel Nicolaus cut their price objective on shares of Forward Air from $29.00 to $22.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $32.25.

Forward Air 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.