Paloma Partners Management Co Boosts Holdings in Forward Air Co. (FWRD)

Paloma Partners Management Co grew its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 142.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,710 shares of the transportation company’s stock after acquiring an additional 5,122 shares during the quarter. Paloma Partners Management Co’s holdings in Forward Air were worth $500,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FWRD. Advisor Group Inc. raised its stake in shares of Forward Air by 138.7% during the fourth quarter. Advisor Group Inc. now owns 2,626 shares of the transportation company’s stock worth $151,000 after acquiring an additional 1,526 shares in the last quarter. Sawgrass Asset Management LLC purchased a new position in shares of Forward Air during the fourth quarter worth approximately $215,000. Everence Capital Management Inc. purchased a new position in shares of Forward Air during the fourth quarter worth approximately $218,000. Meeder Asset Management Inc. increased its stake in shares of Forward Air by 36.3% in the fourth quarter. Meeder Asset Management Inc. now owns 4,613 shares of the transportation company’s stock worth $265,000 after buying an additional 1,228 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Forward Air in the third quarter worth $306,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

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FWRD has been the topic of several analyst reports. BidaskClub raised shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Stephens reaffirmed a “buy” rating and issued a $80.00 target price on shares of Forward Air in a research note on Wednesday, January 10th. Finally, Robert W. Baird raised shares of Forward Air from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $61.40.

In related news, Director George M. Lynch sold 2,443 shares of Forward Air stock in a transaction on Monday, February 26th. The shares were sold at an average price of $55.47, for a total value of $135,513.21. Following the sale, the director now owns 9,940 shares in the company, valued at $551,371.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

FWRD stock opened at $51.90 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.71 and a debt-to-equity ratio of 0.08. Forward Air Co. has a one year low of $45.86 and a one year high of $64.80. The company has a market cap of $1,575.08, a price-to-earnings ratio of 17.96 and a beta of 1.24.

Forward Air (NASDAQ:FWRD) last issued its earnings results on Wednesday, February 7th. The transportation company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $306.10 million for the quarter, compared to the consensus estimate of $301.47 million. Forward Air had a net margin of 7.93% and a return on equity of 13.91%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 earnings per share. analysts anticipate that Forward Air Co. will post 2.99 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 23rd. Investors of record on Thursday, March 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, March 7th. Forward Air’s dividend payout ratio (DPR) is currently 20.76%.

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Forward Air Company 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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Institutional Ownership by Quarter for Forward Air (NASDAQ:FWRD)

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