Trexquant Investment LP Takes $1.70 Million Position in Forward Air Co. (NASDAQ:FWRD)

Trexquant Investment LP bought a new stake in Forward Air Co. (NASDAQ:FWRDFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,056 shares of the transportation company’s stock, valued at approximately $1,701,000. Trexquant Investment LP owned about 0.11% of Forward Air as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its holdings in shares of Forward Air by 1.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 15,070 shares of the transportation company’s stock valued at $947,000 after purchasing an additional 236 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Forward Air by 3.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 6,964 shares of the transportation company’s stock valued at $479,000 after purchasing an additional 251 shares during the last quarter. Equitable Trust Co. lifted its holdings in shares of Forward Air by 7.0% in the 4th quarter. Equitable Trust Co. now owns 4,205 shares of the transportation company’s stock valued at $264,000 after purchasing an additional 276 shares during the last quarter. Synovus Financial Corp lifted its holdings in shares of Forward Air by 12.6% in the 3rd quarter. Synovus Financial Corp now owns 4,533 shares of the transportation company’s stock valued at $312,000 after purchasing an additional 509 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Forward Air by 306.9% in the 3rd quarter. Signaturefd LLC now owns 948 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 715 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Stock Performance

FWRD opened at $12.33 on Monday. The stock has a market cap of $326.01 million, a P/E ratio of 3.61 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s 50 day simple moving average is $22.94 and its 200 day simple moving average is $42.18. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $121.38.

Forward Air (NASDAQ:FWRDGet Free Report) last announced its earnings results on Wednesday, May 8th. The transportation company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.49). The company had revenue of $541.81 million for the quarter, compared to analyst estimates of $644.00 million. Forward Air had a net margin of 4.08% and a return on equity of 5.37%. During the same quarter last year, the company posted $1.37 EPS. As a group, equities analysts anticipate that Forward Air Co. will post -0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FWRD shares. Benchmark reissued a “hold” rating on shares of Forward Air in a report on Wednesday, April 24th. Robert W. Baird reduced their price objective on Forward Air from $24.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, StockNews.com downgraded Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $76.43.

View Our Latest Report on FWRD

About Forward Air

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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