PDT Partners LLC Acquires Shares of 146,107 Forward Air Corporation $FWRD

PDT Partners LLC bought a new position in Forward Air Corporation (NASDAQ:FWRD) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 146,107 shares of the transportation company’s stock, valued at approximately $1,974,000.

Other large investors have also recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC bought a new stake in shares of Forward Air during the 4th quarter valued at $36,000. Allied Private Wealth LLC purchased a new position in Forward Air during the second quarter worth about $57,000. Tower Research Capital LLC TRC increased its stake in Forward Air by 207.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock worth $64,000 after acquiring an additional 1,753 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Forward Air in the 4th quarter valued at about $74,000. Finally, Fifth Third Bancorp boosted its position in shares of Forward Air by 2,397.7% during the 1st quarter. Fifth Third Bancorp now owns 5,495 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 5,275 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FWRD. Weiss Ratings cut shares of Forward Air from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. Stifel Nicolaus upped their target price on shares of Forward Air from $19.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded Forward Air from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Susquehanna lifted their price target on Forward Air from $18.00 to $29.00 and gave the stock a “positive” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Forward Air currently has an average rating of “Moderate Buy” and an average price target of $28.00.

Forward Air Trading Up 1.3%

NASDAQ:FWRD opened at $17.63 on Thursday. The firm has a market capitalization of $557.46 million, a P/E ratio of -1.98 and a beta of 1.36. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 13.98. The company has a fifty day moving average of $15.36 and a 200 day moving average of $17.03. Forward Air Corporation has a 52 week low of $7.86 and a 52 week high of $32.00.

Forward Air Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.