Forward Air Corporation $FWRD Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC increased its holdings in shares of Forward Air Corporation (NASDAQ:FWRD) by 348.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,751 shares of the transportation company’s stock after buying an additional 109,384 shares during the quarter. Squarepoint Ops LLC owned about 0.46% of Forward Air worth $3,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FWRD. Nisa Investment Advisors LLC increased its stake in shares of Forward Air by 26.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock valued at $61,000 after acquiring an additional 530 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Forward Air by 207.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after purchasing an additional 1,753 shares during the period. GAMMA Investing LLC increased its position in Forward Air by 34.1% during the second quarter. GAMMA Investing LLC now owns 3,105 shares of the transportation company’s stock worth $76,000 after purchasing an additional 790 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Forward Air during the second quarter worth approximately $107,000. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in Forward Air by 12.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock worth $140,000 after purchasing an additional 629 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FWRD. Zacks Research cut shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Wall Street Zen downgraded Forward Air from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Jefferies Financial Group restated a “buy” rating on shares of Forward Air in a research note on Thursday, November 6th. Stifel Nicolaus reduced their price objective on Forward Air from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Forward Air in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Forward Air presently has a consensus rating of “Hold” and a consensus target price of $33.67.

Forward Air Trading Down 1.0%

NASDAQ:FWRD opened at $25.67 on Wednesday. The business’s 50-day moving average is $21.81 and its two-hundred day moving average is $25.01. The firm has a market capitalization of $802.19 million, a PE ratio of -6.67 and a beta of 1.37. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $35.47. The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, November 5th. The transportation company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.39). The company had revenue of $631.76 million during the quarter, compared to analysts’ expectations of $645.45 million. Forward Air had a negative return on equity of 33.13% and a negative net margin of 4.64%.Forward Air’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned ($2.62) EPS. Research analysts predict that Forward Air Corporation will post -0.72 earnings per share for the current fiscal year.

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.