ExodusPoint Capital Management LP Buys 66,518 Shares of Forward Air Co. (NASDAQ:FWRD)

ExodusPoint Capital Management LP raised its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 112.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 125,743 shares of the transportation company’s stock after acquiring an additional 66,518 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Forward Air were worth $4,055,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Byrne Asset Management LLC grew its position in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 590 shares in the last quarter. AlphaQuest LLC grew its holdings 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. Quantinno Capital Management LP bought a new stake in shares of Forward Air during the third quarter valued at approximately $224,000. KLP Kapitalforvaltning AS acquired a new position in shares of Forward Air in the fourth quarter valued at $235,000. Finally, Wolverine Asset Management LLC lifted its position in Forward Air by 129.6% in the fourth quarter. Wolverine Asset Management LLC now owns 8,565 shares of the transportation company’s stock worth $276,000 after purchasing an additional 37,461 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ:FWRD opened at $13.12 on Monday. The stock has a market capitalization of $398.89 million, a P/E ratio of -0.55 and a beta of 1.11. 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 1 year low of $11.21 and a 1 year high of $40.92. The firm has a 50 day moving average of $25.10 and a 200-day moving average of $31.27.

Analyst Ratings Changes

FWRD has been the subject of a number of recent research reports. Robert W. Baird dropped their price objective on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus raised their price target on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Finally, Susquehanna cut their target price on Forward Air from $35.00 to $32.00 and set a “positive” rating for the company in a research report on Monday, March 31st. One investment 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.75.

Forward Air 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.