Goldentree Asset Management LP Invests $14.27 Million in Forward Air Co. (NASDAQ:FWRD)

Goldentree Asset Management LP bought a new position in shares of Forward Air Co. (NASDAQ:FWRD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 404,048 shares of the transportation company’s stock, valued at approximately $14,270,000. Forward Air accounts for about 1.1% of Goldentree Asset Management LP’s portfolio, making the stock its 23rd biggest holding.

Several other large investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its holdings in shares of Forward Air by 2,430.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 132,846 shares of the transportation company’s stock worth $4,703,000 after purchasing an additional 127,596 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Forward Air during the third quarter worth $813,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Forward Air in the 3rd quarter valued at $298,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Forward Air by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 675,883 shares of the transportation company’s stock worth $23,926,000 after acquiring an additional 28,669 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of Forward Air during the 3rd quarter valued at about $437,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Forward Air Trading Down 0.1 %

FWRD opened at $35.99 on Friday. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $67.20. The stock has a market capitalization of $1.04 billion, a PE ratio of -1.51 and a beta of 1.02. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The firm has a 50-day moving average price of $36.14 and a two-hundred day moving average price of $28.04.

Wall Street Analyst Weigh In

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

Forward Air Company Profile

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.