Allianz Asset Management GmbH purchased a new stake in Forward Air Co. (NASDAQ:FWRD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,305 shares of the transportation company’s stock, valued at approximately $1,105,000. Allianz Asset Management GmbH owned 0.06% of Forward Air at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cambiar Investors LLC purchased a new position in Forward Air during the 3rd quarter worth $8,421,000. Victory Capital Management Inc. boosted its holdings in Forward Air by 12.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock worth $71,850,000 after acquiring an additional 139,363 shares during the last quarter. AHL Partners LLP boosted its holdings in Forward Air by 358.3% during the 2nd quarter. AHL Partners LLP now owns 95,269 shares of the transportation company’s stock worth $5,076,000 after acquiring an additional 74,480 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Forward Air by 93.2% during the 2nd quarter. Alliancebernstein L.P. now owns 86,110 shares of the transportation company’s stock worth $4,588,000 after acquiring an additional 41,540 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Forward Air by 16.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 201,353 shares of the transportation company’s stock worth $11,524,000 after acquiring an additional 27,969 shares during the last quarter. 95.70% of the stock is owned by institutional investors and hedge funds.
In related news, insider Chris C. Ruble sold 23,020 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $57.75, for a total value of $1,329,405.00. Following the sale, the insider now directly owns 28,279 shares in the company, valued at approximately $1,633,112.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bruce A. Campbell sold 500 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $55.45, for a total value of $27,725.00. Following the completion of the sale, the chief executive officer now owns 153,454 shares in the company, valued at $8,509,024.30. The disclosure for this sale can be found here. Insiders sold a total of 93,549 shares of company stock worth $5,250,836 over the last 90 days. 2.40% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on the stock. Stephens reaffirmed a “buy” rating and set a $80.00 price objective on shares of Forward Air in a report on Wednesday. Zacks Investment Research raised shares of Forward Air from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Tuesday. Cowen reiterated a “market perform” rating and set a $54.00 target price (up from $51.00) on shares of Forward Air in a research note on Monday, October 30th. Robert W. Baird reiterated a “hold” rating and set a $60.00 target price on shares of Forward Air in a research note on Friday, October 6th. Finally, KeyCorp reiterated a “hold” rating on shares of Forward Air in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Forward Air has a consensus rating of “Hold” and a consensus price target of $62.60.
Shares of Forward Air Co. (FWRD) opened at $60.47 on Friday. The company has a market capitalization of $1,800.00, a price-to-earnings ratio of 28.39 and a beta of 1.18. Forward Air Co. has a 52 week low of $45.86 and a 52 week high of $60.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.71 and a current ratio of 2.71.
Forward Air (NASDAQ:FWRD) last released its earnings results on Wednesday, October 25th. The transportation company reported $0.58 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.58. The company had revenue of $280.20 million for the quarter, compared to analysts’ expectations of $278.75 million. Forward Air had a return on equity of 13.76% and a net margin of 6.10%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. research analysts predict that Forward Air Co. will post 2.33 earnings per share for the current fiscal year.
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Forward Air Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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