Oasis Management Co Ltd. Invests $4.45 Million in Forward Air Corporation $FWRD

Oasis Management Co Ltd. bought a new stake in shares of Forward Air Corporation (NASDAQ:FWRD) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 173,432 shares of the transportation company’s stock, valued at approximately $4,447,000. Forward Air accounts for about 0.4% of Oasis Management Co Ltd.’s holdings, making the stock its 25th largest holding. Oasis Management Co Ltd. owned 0.56% of Forward Air as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada increased its position in Forward Air by 1,179.7% during the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock valued at $6,451,000 after purchasing an additional 296,001 shares during the period. AQR Capital Management LLC raised its holdings in Forward Air by 7.0% in the 1st quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after purchasing an additional 654 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Forward Air by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after purchasing an additional 624 shares during the period. Intech Investment Management LLC boosted its stake in shares of Forward Air by 64.2% during the 1st quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company’s stock valued at $1,467,000 after purchasing an additional 28,564 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Forward Air by 12.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock valued at $140,000 after purchasing an additional 629 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Susquehanna reiterated a “positive” rating and set a $42.00 price target on shares of Forward Air in a research report on Tuesday, February 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Stifel Nicolaus upped their target price on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Finally, Zacks Research lowered Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.00.

Forward Air Stock Performance

Shares of FWRD stock opened at $15.80 on Friday. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $32.47. The stock has a market cap of $493.75 million, a PE ratio of -4.49 and a beta of 1.33. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt-to-equity ratio of 10.58. The company’s fifty day moving average price is $26.42 and its 200-day moving average price is $25.05.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Forward Air had a negative return on equity of 42.67% and a negative net margin of 4.32%.The business had revenue of $631.23 million during the quarter, compared to the consensus estimate of $629.60 million. During the same quarter in the previous year, the business earned ($1.23) earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Forward Air Corporation will post -0.72 EPS for the current fiscal year.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.