AlphaQuest LLC Purchases 1,782 Shares of Forward Air Co. (NASDAQ:FWRD)

AlphaQuest LLC grew its position in Forward Air Co. (NASDAQ:FWRD) by 155.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,925 shares of the transportation company’s stock after buying an additional 1,782 shares during the quarter. AlphaQuest LLC’s holdings in Forward Air were worth $94,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised 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 valued at $11,573,000 after acquiring an additional 285,465 shares during the last quarter. Goldentree Asset Management LP bought a new position in shares of Forward Air in the third quarter valued at approximately $14,270,000. Verition Fund Management LLC raised its stake in shares of Forward Air by 1,481.6% in the third quarter. Verition Fund Management LLC now owns 208,396 shares of the transportation company’s stock valued at $7,377,000 after acquiring an additional 195,220 shares during the last quarter. Weiss Asset Management LP raised its stake in shares of Forward Air by 73.0% in the third quarter. Weiss Asset Management LP now owns 78,803 shares of the transportation company’s stock valued at $2,790,000 after acquiring an additional 33,261 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Forward Air in the fourth quarter valued at approximately $815,000. Institutional investors own 97.03% of the company’s stock.

Forward Air Price Performance

FWRD opened at $20.51 on Wednesday. The company has a fifty day moving average price of $28.66 and a two-hundred day moving average price of $32.53. 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 $40.92. The firm has a market capitalization of $593.85 million, a PE ratio of -0.86 and a beta of 1.08.

Analyst Upgrades and Downgrades

FWRD has been the subject of a number of research reports. Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus raised their price target on shares of Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Finally, Benchmark reissued a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Forward Air currently has an average rating of “Hold” and an average target price of $37.00.

Forward Air 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.