Polar Asset Management Partners Inc. Sells 89,089 Shares of Forward Air Co. (NASDAQ:FWRD)

Polar Asset Management Partners Inc. lessened its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 81.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,111 shares of the transportation company’s stock after selling 89,089 shares during the period. Polar Asset Management Partners Inc.’s holdings in Forward Air were worth $649,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its stake in Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock worth $26,000 after acquiring an additional 715 shares in the last quarter. Byrne Asset Management LLC grew its holdings in shares of Forward Air by 122.9% in the 4th quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after purchasing an additional 590 shares during the last quarter. AlphaQuest LLC increased its position in shares of Forward Air by 155.9% during the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock worth $94,000 after purchasing an additional 1,782 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Forward Air during the 4th quarter worth about $138,000. Finally, Quantinno Capital Management LP lifted its holdings in Forward Air by 9.7% during the 4th quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company’s stock valued at $224,000 after purchasing an additional 615 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Forward Air Trading Up 1.5%

Shares of NASDAQ FWRD opened at $19.17 on Friday. Forward Air Co. has a 1-year low of $9.79 and a 1-year high of $40.92. The company has a 50-day moving average of $17.04 and a two-hundred day moving average of $26.64. The company has a market cap of $583.21 million, a PE ratio of -0.80 and a beta of 1.24. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FWRD. 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 note on Thursday, February 27th. Susquehanna decreased their price target on Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research report on Monday, March 31st. Finally, Stifel Nicolaus dropped their price target on Forward Air from $29.00 to $22.00 and set a “hold” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Forward Air has a consensus rating of “Hold” and an average target price of $32.25.

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.