41,197 Shares in Forward Air Co. (NASDAQ:FWRD) Purchased by Bardin Hill Management Partners LP

Bardin Hill Management Partners LP bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 41,197 shares of the transportation company’s stock, valued at approximately $1,458,000. Forward Air accounts for approximately 0.7% of Bardin Hill Management Partners LP’s holdings, making the stock its 23rd largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FWRD. Northwest Investment Counselors LLC acquired a new position in shares of Forward Air during the third quarter valued at approximately $39,000. Point72 DIFC Ltd acquired a new position in shares of Forward Air during the 2nd quarter valued at $26,000. Gladius Capital Management LP raised its stake in shares of Forward Air by 33.5% in the 2nd quarter. Gladius Capital Management LP now owns 1,964 shares of the transportation company’s stock worth $37,000 after buying an additional 493 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Forward Air by 62.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after buying an additional 763 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Forward Air by 2,329.3% during the second quarter. GAMMA Investing LLC now owns 1,992 shares of the transportation company’s stock valued at $38,000 after buying an additional 1,910 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Forward Air Trading Up 1.9 %

Forward Air stock opened at $36.69 on Monday. The company has a 50 day moving average price of $36.16 and a 200 day moving average price of $28.27. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $67.20. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.54 and a beta of 1.02.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FWRD. Stifel Nicolaus upped their price target on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a report on Monday, October 21st. Benchmark restated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 target price on shares of Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Robert W. Baird increased their price target on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.25.

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.