Inspire Investing LLC Boosts Stock Position in Forward Air Co. (NASDAQ:FWRD)

Inspire Investing LLC lifted its position in shares of Forward Air Co. (NASDAQ:FWRD) by 9.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,601 shares of the transportation company’s stock after buying an additional 1,088 shares during the period. Inspire Investing LLC’s holdings in Forward Air were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FWRD. Point72 DIFC Ltd purchased a new position in shares of Forward Air in the second quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in Forward Air in the 3rd quarter worth approximately $39,000. Nisa Investment Advisors LLC lifted its position in Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after purchasing an additional 763 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Forward Air by 89.2% during the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 1,776 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Forward Air in the second quarter worth approximately $181,000. Institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

FWRD has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday. Jefferies Financial Group set a $47.00 target price on Forward Air and gave the stock a “buy” rating in a research note on Friday, October 18th. StockNews.com upgraded Forward Air to a “sell” rating in a report on Wednesday, November 6th. Finally, Benchmark reiterated a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Forward Air has an average rating of “Hold” and a consensus price target of $35.67.

Forward Air Stock Performance

Forward Air stock opened at $33.51 on Friday. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $49.55. The stock has a market cap of $970.11 million, a price-to-earnings ratio of -1.41 and a beta of 1.04. The stock’s 50 day simple moving average is $33.15 and its two-hundred day simple moving average is $32.37. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21.

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.