Quantinno Capital Management LP Invests $224,000 in Forward Air Co. (NASDAQ:FWRD)

Quantinno Capital Management LP bought a new stake in Forward Air Co. (NASDAQ:FWRD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,334 shares of the transportation company’s stock, valued at approximately $224,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FWRD. Polar Asset Management Partners Inc. acquired a new position in shares of Forward Air during the 3rd quarter worth about $3,866,000. Atom Investors LP acquired a new position in Forward Air during the third quarter valued at approximately $865,000. Bardin Hill Management Partners LP acquired a new position in Forward Air during the third quarter valued at approximately $1,458,000. Paloma Partners Management Co bought a new position in Forward Air in the third quarter valued at approximately $901,000. Finally, Verition Fund Management LLC increased its position in shares of Forward Air by 1,481.6% during the 3rd quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock worth $7,377,000 after purchasing an additional 195,220 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FWRD has been the subject of several analyst reports. Stifel Nicolaus raised their target price on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Jefferies Financial Group set a $47.00 price objective on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, StockNews.com raised shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.25.

Forward Air Price Performance

NASDAQ:FWRD opened at $32.15 on Tuesday. The company has a market cap of $930.87 million, a P/E ratio of -1.35 and a beta of 1.02. The firm’s fifty day moving average price is $35.73 and its two-hundred day moving average price is $29.92. Forward Air Co. has a one year low of $11.21 and a one year high of $67.20. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21.

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.