Anthracite Investment Company Inc. Takes $2.26 Million Position in Forward Air Co. (NASDAQ:FWRD)

Anthracite Investment Company Inc. bought a new position in Forward Air Co. (NASDAQ:FWRD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 70,015 shares of the transportation company’s stock, valued at approximately $2,258,000. Anthracite Investment Company Inc. owned about 0.24% of Forward Air at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in FWRD. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $24,376,000 after buying an additional 79,960 shares during the period. Goldentree Asset Management LP bought a new position in Forward Air in the 3rd quarter valued at approximately $14,270,000. Assenagon Asset Management S.A. purchased a new stake in shares of Forward Air during the fourth quarter valued at $11,140,000. JPMorgan Chase & Co. grew its stake in shares of Forward Air by 688.6% in the third quarter. JPMorgan Chase & Co. now owns 326,921 shares of the transportation company’s stock worth $11,573,000 after acquiring an additional 285,465 shares during the period. Finally, New York State Common Retirement Fund raised its stake in Forward Air by 17.2% during the 4th quarter. New York State Common Retirement Fund now owns 273,462 shares of the transportation company’s stock valued at $8,819,000 after buying an additional 40,176 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Stock Down 3.6 %

FWRD stock opened at $20.91 on Wednesday. Forward Air Co. has a 12 month low of $11.21 and a 12 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 company has a market cap of $605.43 million, a price-to-earnings ratio of -0.88 and a beta of 1.08. The firm has a 50-day moving average of $27.49 and a two-hundred day moving average of $32.14.

Analyst Ratings Changes

Several brokerages have recently weighed in on FWRD. Benchmark reiterated a “hold” rating on shares of Forward Air in a research note on Tuesday, January 7th. Stifel Nicolaus increased their price objective on shares of Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird dropped their price objective on Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.00.

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.