Susquehanna Fundamental Investments LLC Makes New $846,000 Investment in Forward Air Corporation $FWRD

Susquehanna Fundamental Investments LLC bought a new stake in shares of Forward Air Corporation (NASDAQ:FWRD) in the second quarter, Holdings Channel reports. The fund bought 62,615 shares of the transportation company’s stock, valued at approximately $846,000.

Several other large investors have also recently made changes to their positions in FWRD. BlackRock Inc. bought a new stake in shares of Forward Air in the 2nd quarter worth approximately $37,485,000. Cibc World Market Inc. bought a new position in Forward Air during the 2nd quarter valued at approximately $14,485,000. Deutsche Bank AG purchased a new position in Forward Air during the second quarter valued at $8,293,000. Melqart Asset Management UK Ltd boosted its holdings in Forward Air by 122.3% in the fourth quarter. Melqart Asset Management UK Ltd now owns 849,876 shares of the transportation company’s stock worth $21,247,000 after acquiring an additional 467,482 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Forward Air by 1,179.7% in the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after acquiring an additional 296,001 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FWRD has been the subject of several analyst reports. Stifel Nicolaus raised their price target on Forward Air from $19.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Zacks Research raised shares of Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Wall Street Zen upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. Finally, Susquehanna raised their price target on shares of Forward Air from $18.00 to $29.00 and gave the company a “positive” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Forward Air Trading Down 2.4%

Forward Air stock opened at $15.98 on Thursday. The company has a debt-to-equity ratio of 13.98, a current ratio of 1.32 and a quick ratio of 1.32. Forward Air Corporation has a one year low of $7.86 and a one year high of $31.30. The stock has a market capitalization of $505.29 million, a PE ratio of -1.80 and a beta of 1.38. The business’s fifty day moving average is $15.70 and its 200 day moving average is $16.58.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.