Fox Run Management L.L.C. Takes $300,000 Position in Forward Air Co. (NASDAQ:FWRD)

Fox Run Management L.L.C. bought a new position in shares of Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, HoldingsChannel.com reports. The fund bought 9,296 shares of the transportation company’s stock, valued at approximately $300,000.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Forward Air by 11.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock worth $24,376,000 after acquiring an additional 79,960 shares during the period. Goldentree Asset Management LP purchased a new stake in Forward Air during the 3rd quarter worth about $14,270,000. Assenagon Asset Management S.A. acquired a new stake in Forward Air in the 4th quarter valued at about $11,140,000. JPMorgan Chase & Co. boosted its stake in shares of Forward Air by 688.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock valued at $11,573,000 after buying an additional 285,465 shares during the period. Finally, New York State Common Retirement Fund grew its position in shares of Forward Air by 17.2% during the fourth quarter. New York State Common Retirement Fund now owns 273,462 shares of the transportation company’s stock worth $8,819,000 after buying an additional 40,176 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Robert W. Baird decreased their price target 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 lifted their price objective on shares of Forward Air from $34.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Benchmark restated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $37.00.

Forward Air Stock Up 0.8 %

FWRD stock opened at $20.90 on Friday. The company’s 50 day moving average is $26.99 and its two-hundred day moving average is $31.99. Forward Air Co. has a twelve month low of $11.21 and a twelve month high of $40.92. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 5.07. The stock has a market cap of $605.14 million, a P/E ratio of -0.88 and a beta of 1.08.

Forward Air Company 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.