Paloma Partners Management Co Takes $901,000 Position in Forward Air Co. (NASDAQ:FWRD)

Paloma Partners Management Co acquired a new stake in Forward Air Co. (NASDAQ:FWRD) during the third quarter, according to its most recent filing with the SEC. The firm acquired 25,446 shares of the transportation company’s stock, valued at approximately $901,000.

Several other hedge funds and other institutional investors have also made changes to their positions in FWRD. Point72 DIFC Ltd purchased a new position in Forward Air in the 2nd quarter valued at approximately $26,000. Gladius Capital Management LP increased its stake in Forward Air by 33.5% in the second quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 493 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Forward Air by 2,329.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock worth $38,000 after acquiring an additional 1,910 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Forward Air in the 3rd quarter valued at $39,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after acquiring an additional 763 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Stock Down 1.9 %

Shares of FWRD opened at $36.00 on Tuesday. The business’s fifty day moving average price is $36.16 and its 200 day moving average price is $28.37. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20.

Wall Street Analyst Weigh In

FWRD has been the topic of a number of research reports. Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Monday, August 12th. Robert W. Baird raised their price target on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. StockNews.com upgraded shares of Forward Air to a “sell” rating in a research note on Wednesday, November 6th. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Stifel Nicolaus increased their price target on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $39.25.

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.