SG Americas Securities LLC Sells 114,578 Shares of Forward Air Corporation $FWRD

SG Americas Securities LLC lowered its holdings in Forward Air Corporation (NASDAQ:FWRD) by 88.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,509 shares of the transportation company’s stock after selling 114,578 shares during the quarter. SG Americas Securities LLC’s holdings in Forward Air were worth $372,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of Forward Air by 26.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock valued at $61,000 after buying an additional 530 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Forward Air by 207.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 1,753 shares in the last quarter. GAMMA Investing LLC boosted its stake in Forward Air by 34.1% during the 2nd quarter. GAMMA Investing LLC now owns 3,105 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 790 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Forward Air during the 2nd quarter valued at about $107,000. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Forward Air by 12.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock worth $140,000 after purchasing an additional 629 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Trading Down 2.4%

Shares of Forward Air stock opened at $27.79 on Monday. The firm has a market cap of $868.44 million, a PE ratio of -7.22 and a beta of 1.35. Forward Air Corporation has a 1 year low of $9.78 and a 1 year high of $35.47. The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a fifty day moving average price of $25.20 and a 200-day moving average price of $25.79.

Forward Air (NASDAQ:FWRD) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $645.45 million. During the same quarter in the previous year, the company posted ($2.62) EPS. Forward Air’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities research analysts anticipate that Forward Air Corporation will post -0.72 EPS for the current year.

Analysts Set New Price Targets

FWRD has been the topic of a number of recent research reports. Wall Street Zen lowered Forward Air from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Susquehanna raised their price objective on Forward Air from $42.00 to $45.00 and gave the company a “positive” rating in a research note on Monday, January 5th. Stifel Nicolaus upped their target price on shares of Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Thursday. Finally, Zacks Research cut shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.00.

Forward Air Company Profile

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.