Polymer Capital Management US LLC Invests $254,000 in Forward Air Co. (NASDAQ:FWRD)

Polymer Capital Management US LLC bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,863 shares of the transportation company’s stock, valued at approximately $254,000.

A number of other large investors also recently added to or reduced their stakes in FWRD. Charles Schwab Investment Management Inc. grew its stake in shares of Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock valued at $24,376,000 after buying an additional 79,960 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Forward Air during the 4th quarter valued at about $11,140,000. JPMorgan Chase & Co. grew its position in Forward Air by 688.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after acquiring an additional 285,465 shares during the last quarter. New York State Common Retirement Fund increased its stake in Forward Air by 17.2% in the 4th quarter. New York State Common Retirement Fund now owns 273,462 shares of the transportation company’s stock worth $8,819,000 after purchasing an additional 40,176 shares during the period. Finally, ExodusPoint Capital Management LP lifted its position in Forward Air by 112.3% in the fourth quarter. ExodusPoint Capital Management LP now owns 125,743 shares of the transportation company’s stock valued at $4,055,000 after purchasing an additional 66,518 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Trading Down 5.1 %

NASDAQ:FWRD opened at $12.45 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 12 month low of $11.21 and a 12 month high of $40.92. The company has a 50-day moving average price of $24.66 and a 200-day moving average price of $31.09. The stock has a market cap of $378.52 million, a price-to-earnings ratio of -0.52 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Robert W. Baird decreased their price objective on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Susquehanna lowered their price objective on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a research note on Monday, March 31st. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.75.

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.