AlpInvest Partners B.V. Buys New Shares in Forward Air Co. (NASDAQ:FWRD)

AlpInvest Partners B.V. bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 103,330 shares of the transportation company’s stock, valued at approximately $3,969,000. Forward Air comprises about 2.3% of AlpInvest Partners B.V.’s investment portfolio, making the stock its 10th largest holding. AlpInvest Partners B.V. owned about 0.37% of Forward Air as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FWRD. Gladius Capital Management LP grew its holdings in 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 acquiring an additional 493 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Forward Air by 3.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the transportation company’s stock valued at $303,000 after purchasing an additional 600 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Forward Air by 62.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock valued at $70,000 after acquiring an additional 763 shares during the period. EntryPoint Capital LLC lifted its position in Forward Air by 36.2% during the 1st quarter. EntryPoint Capital LLC now owns 3,220 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 856 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in Forward Air during the 3rd quarter valued at about $39,000. Institutional investors own 97.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the company a “buy” rating in a research report on Friday, October 18th. Benchmark reissued a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. StockNews.com raised shares of Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Stifel Nicolaus lifted their target price on shares of Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Robert W. Baird lifted their target price on shares of Forward Air from $17.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. 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 stock. Based on data from MarketBeat.com, Forward Air has a consensus rating of “Hold” and an average target price of $39.25.

Forward Air Stock Up 4.4 %

Forward Air stock traded up $1.45 during trading hours on Wednesday, hitting $34.47. The stock had a trading volume of 370,911 shares, compared to its average volume of 1,001,491. The stock’s 50-day moving average price is $36.09 and its 200-day moving average price is $27.34. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20. The stock has a market capitalization of $997.91 million, a P/E ratio of -1.45 and a beta of 1.02. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07.

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.