Forward Air Co. (NASDAQ:FWRD) Holdings Cut by Littlejohn & Co. LLC

Littlejohn & Co. LLC lowered its holdings in Forward Air Co. (NASDAQ:FWRD) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,665,660 shares of the transportation company’s stock after selling 574,049 shares during the quarter. Forward Air makes up about 29.8% of Littlejohn & Co. LLC’s investment portfolio, making the stock its largest holding. Littlejohn & Co. LLC owned approximately 5.75% of Forward Air worth $58,964,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Boston Trust Walden Corp bought a new stake in shares of Forward Air during the 2nd quarter valued at about $611,000. Vanguard Group Inc. increased its stake in shares of Forward Air by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 3,407,797 shares of the transportation company’s stock worth $106,017,000 after purchasing an additional 424,924 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Forward Air by 103.9% during the first quarter. Tidal Investments LLC now owns 21,347 shares of the transportation company’s stock worth $664,000 after acquiring an additional 10,877 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Forward Air by 712.5% in the second quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock worth $12,965,000 after purchasing an additional 597,120 shares during the last quarter. Finally, Private Management Group Inc. boosted its stake in Forward Air by 34.1% during the second quarter. Private Management Group Inc. now owns 1,336,687 shares of the transportation company’s stock valued at $25,451,000 after buying an additional 339,982 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Forward Air Price Performance

Shares of FWRD stock opened at $35.88 on Monday. The stock has a 50 day simple moving average of $36.17 and a 200-day simple moving average of $27.65. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 5.07. Forward Air Co. has a 1-year low of $11.21 and a 1-year high of $67.20.

Analyst Upgrades and Downgrades

FWRD has been the topic of several recent research reports. Benchmark restated a “hold” rating on shares of Forward Air in a research report on Monday, August 12th. StockNews.com raised Forward Air to a “sell” rating in a research report on Wednesday, November 6th. Jefferies Financial Group set a $47.00 price target on Forward Air and gave the stock a “buy” rating in a research report on Friday, October 18th. Robert W. Baird boosted their price objective on Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Stifel Nicolaus upped their price objective on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.25.

Forward Air Company Profile

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.