Byrne Asset Management LLC Increases Holdings in Forward Air Co. (NASDAQ:FWRD)

Byrne Asset Management LLC grew its position in shares of Forward Air Co. (NASDAQ:FWRD) by 81.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,940 shares of the transportation company’s stock after buying an additional 870 shares during the quarter. Byrne Asset Management LLC’s holdings in Forward Air were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FWRD. Sterling Capital Management LLC increased its position in Forward Air by 812.5% during the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 715 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Forward Air during the 4th quarter valued at about $72,000. AlphaQuest LLC lifted its stake in shares of Forward Air by 155.9% in 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 during the period. Aquatic Capital Management LLC purchased a new position in shares of Forward Air in the fourth quarter worth approximately $138,000. Finally, Quantinno Capital Management LP grew its position in Forward Air by 9.7% during the fourth quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company’s stock valued at $224,000 after buying an additional 615 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Susquehanna decreased their price target on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research report on Monday, March 31st. Robert W. Baird decreased their target price on Forward Air from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus cut 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.25.

Forward Air Price Performance

NASDAQ FWRD opened at $20.21 on Friday. Forward Air Co. has a 12 month low of $9.79 and a 12 month high of $40.92. The stock has a market cap of $614.85 million, a price-to-earnings ratio of -0.85 and a beta of 1.29. The company’s 50 day moving average is $16.70 and its two-hundred day moving average is $24.23. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07.

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.