GAMMA Investing LLC Raises Stock Position in Forward Air Corporation $FWRD

GAMMA Investing LLC grew its holdings in shares of Forward Air Corporation (NASDAQ:FWRD) by 34.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,105 shares of the transportation company’s stock after purchasing an additional 790 shares during the period. GAMMA Investing LLC’s holdings in Forward Air were worth $76,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Littlejohn & Co. LLC grew its position in shares of Forward Air by 70.1% during the first quarter. Littlejohn & Co. LLC now owns 2,814,401 shares of the transportation company’s stock worth $56,541,000 after buying an additional 1,159,747 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Forward Air by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,050,268 shares of the transportation company’s stock worth $41,190,000 after buying an additional 6,702 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Forward Air by 28.9% during the first quarter. Ancora Advisors LLC now owns 1,230,390 shares of the transportation company’s stock worth $24,719,000 after buying an additional 275,500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Forward Air by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 761,231 shares of the transportation company’s stock worth $15,293,000 after buying an additional 5,388 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its position in shares of Forward Air by 23.5% during the first quarter. Penn Capital Management Company LLC now owns 470,576 shares of the transportation company’s stock worth $9,475,000 after buying an additional 89,629 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FWRD. Wall Street Zen downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday, September 20th. Stifel Nicolaus boosted their price objective on Forward Air from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Finally, Susquehanna boosted their price objective on Forward Air from $40.00 to $43.00 and gave the stock a “positive” rating in a research report on Tuesday, August 12th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.75.

Forward Air Price Performance

Forward Air stock opened at $23.90 on Friday. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $40.92. The company has a debt-to-equity ratio of 7.91, a current ratio of 1.20 and a quick ratio of 1.20. The business has a 50 day simple moving average of $29.04 and a 200-day simple moving average of $23.01. The stock has a market capitalization of $735.88 million, a PE ratio of -3.99 and a beta of 1.39.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Monday, August 11th. The transportation company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.24). Forward Air had a negative return on equity of 40.36% and a negative net margin of 6.86%.The company had revenue of $618.84 million for the quarter, compared to analysts’ expectations of $627.98 million. During the same quarter last year, the company earned ($23.29) EPS. Forward Air’s revenue for the quarter was down 3.9% compared to the same quarter last year. Equities analysts predict that Forward Air Corporation will post -0.72 earnings per share for the current year.

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.