Tidal Investments LLC Has $535,000 Holdings in Forward Air Co. (NASDAQ:FWRD)

Tidal Investments LLC trimmed its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 33.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,116 shares of the transportation company’s stock after selling 7,729 shares during the period. Tidal Investments LLC’s holdings in Forward Air were worth $535,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of FWRD. Clearlake Capital Group L.P. increased its holdings in shares of Forward Air by 255.2% during the 2nd quarter. Clearlake Capital Group L.P. now owns 3,825,000 shares of the transportation company’s stock valued at $72,828,000 after acquiring an additional 2,747,994 shares during the last quarter. Private Management Group Inc. grew its holdings in Forward Air by 34.1% during the second quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company’s stock valued at $25,451,000 after purchasing an additional 339,982 shares during the last quarter. MFN Partners Management LP bought a new position in shares of Forward Air in the second quarter valued at approximately $17,208,000. Paralel Advisors LLC boosted its holdings in shares of Forward Air by 47.1% during the 2nd quarter. Paralel Advisors LLC now owns 750,000 shares of the transportation company’s stock worth $14,280,000 after buying an additional 240,000 shares during the period. Finally, Federated Hermes Inc. grew its stake in Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock valued at $12,965,000 after buying an additional 597,120 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Trading Down 6.3 %

Shares of FWRD stock opened at $28.93 on Monday. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a fifty day moving average of $35.28 and a 200-day moving average of $30.28. Forward Air Co. has a 52-week low of $11.21 and a 52-week high of $67.20. The stock has a market cap of $837.64 million, a price-to-earnings ratio of -1.21 and a beta of 1.02.

Analyst Ratings Changes

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

About Forward Air

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.