Essex Investment Management Co. LLC Makes New Investment in Forward Air Co. (NASDAQ:FWRD)

Essex Investment Management Co. LLC bought a new stake in shares of Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 77,127 shares of the transportation company’s stock, valued at approximately $2,487,000. Essex Investment Management Co. LLC owned about 0.27% of Forward Air at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Byrne Asset Management LLC increased its holdings in Forward Air by 122.9% during the fourth quarter. Byrne Asset Management LLC now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 590 shares during the last quarter. AlphaQuest LLC grew its position in shares of Forward Air by 155.9% during the 4th quarter. AlphaQuest LLC now owns 2,925 shares of the transportation company’s stock valued at $94,000 after acquiring an additional 1,782 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of Forward Air during the 3rd quarter worth approximately $224,000. LMR Partners LLP bought a new stake in shares of Forward Air in the 3rd quarter worth approximately $232,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Forward Air in the third quarter valued at approximately $298,000. 97.03% of the stock is currently owned by institutional investors.

Forward Air Trading Up 1.0 %

NASDAQ:FWRD opened at $20.70 on Monday. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $40.92. The stock’s fifty day moving average price is $30.55 and its two-hundred day moving average price is $33.19. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $599.35 million, a P/E ratio of -0.87 and a beta of 1.08.

Wall Street Analyst Weigh In

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

About Forward Air

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.