Clear Harbor Asset Management LLC Acquires New Stake in Forward Air Corporation $FWRD

Clear Harbor Asset Management LLC bought a new position in Forward Air Corporation (NASDAQ:FWRD) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 42,560 shares of the transportation company’s stock, valued at approximately $1,091,000. Clear Harbor Asset Management LLC owned about 0.14% of Forward Air as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC purchased a new position in shares of Forward Air during the third quarter worth about $236,000. Ridgemont Partners Management LLC lifted its position in Forward Air by 0.7% during the third quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company’s stock valued at $49,675,000 after purchasing an additional 13,926 shares during the last quarter. Inspire Investing LLC grew its stake in Forward Air by 10.1% in the 3rd quarter. Inspire Investing LLC now owns 17,581 shares of the transportation company’s stock worth $451,000 after buying an additional 1,606 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Forward Air by 348.7% in the 2nd quarter. Squarepoint Ops LLC now owns 140,751 shares of the transportation company’s stock worth $3,454,000 after buying an additional 109,384 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Forward Air by 5.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 15,436 shares of the transportation company’s stock valued at $379,000 after buying an additional 762 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FWRD. Jefferies Financial Group reiterated a “buy” rating on shares of Forward Air in a research report on Thursday, November 6th. Stifel Nicolaus reduced their price objective on Forward Air from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Wall Street Zen cut Forward Air from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Susquehanna upped their target price on Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday. Finally, Zacks Research upgraded shares of Forward Air from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $34.33.

Forward Air Trading Up 3.1%

Shares of FWRD stock opened at $27.06 on Friday. The business has a 50-day moving average of $23.63 and a 200 day moving average of $25.60. The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20. Forward Air Corporation has a 1-year low of $9.78 and a 1-year high of $35.47. The stock has a market capitalization of $845.63 million, a PE ratio of -7.03 and a beta of 1.35.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, November 5th. The transportation company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.39). Forward Air had a negative net margin of 4.64% and a negative return on equity of 33.13%. The company had revenue of $631.76 million during the quarter, compared to the consensus estimate of $645.45 million. During the same quarter in the previous year, the firm posted ($2.62) EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Forward Air Corporation will post -0.72 earnings per share for the current year.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.