Assenagon Asset Management S.A. Takes $11.14 Million Position in Forward Air Co. (NASDAQ:FWRD)

Assenagon Asset Management S.A. bought a new stake in Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, HoldingsChannel reports. The fund bought 345,411 shares of the transportation company’s stock, valued at approximately $11,140,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new stake in shares of Forward Air in the third quarter valued at about $39,000. Point72 DIFC Ltd purchased a new stake in shares of Forward Air in the second quarter valued at about $26,000. Nisa Investment Advisors LLC boosted its holdings in Forward Air by 62.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after buying an additional 763 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Forward Air by 89.2% during the third quarter. GAMMA Investing LLC now owns 3,768 shares of the transportation company’s stock worth $133,000 after buying an additional 1,776 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in Forward Air during the third quarter worth about $224,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ:FWRD opened at $33.89 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. The company has a market cap of $981.12 million, a P/E ratio of -1.42 and a beta of 1.04. Forward Air Co. has a fifty-two week low of $11.21 and a fifty-two week high of $61.42. The firm’s 50 day moving average is $33.29 and its two-hundred day moving average is $31.85.

Wall Street Analysts Forecast Growth

FWRD has been the subject of a number of research reports. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus boosted their price objective on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Forward Air presently has a consensus rating of “Hold” and a consensus price target of $35.67.

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.