Isthmus Partners LLC Sells 5,567 Shares of Forward Air Co. (NASDAQ:FWRD)

Isthmus Partners LLC cut its stake in shares of Forward Air Co. (NASDAQ:FWRD) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,055 shares of the transportation company’s stock after selling 5,567 shares during the quarter. Isthmus Partners LLC’s holdings in Forward Air were worth $1,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Boston Trust Walden Corp bought a new stake in shares of Forward Air in the 2nd quarter worth approximately $611,000. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 424,924 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Forward Air by 103.9% in the 1st 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. lifted its holdings in shares of Forward Air by 712.5% in the 2nd quarter. Federated Hermes Inc. now owns 680,929 shares of the transportation company’s stock worth $12,965,000 after acquiring an additional 597,120 shares during the last quarter. Finally, Private Management Group Inc. raised its holdings in Forward Air by 34.1% during the 2nd 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 currently owned by institutional investors.

Forward Air Stock Down 0.1 %

Shares of Forward Air stock opened at $35.99 on Friday. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. The company’s fifty day simple moving average is $36.17 and its two-hundred day simple moving average is $27.98. Forward Air Co. has a 12-month low of $11.21 and a 12-month high of $67.20.

Analyst Ratings Changes

A number of equities research analysts recently commented on FWRD shares. Benchmark reiterated a “hold” rating on shares of Forward Air in a report on Monday, August 12th. Robert W. Baird upped their price target on shares of Forward Air from $17.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. StockNews.com upgraded shares of Forward Air to a “sell” rating in a report on Wednesday, November 6th. Stifel Nicolaus upped their price target on shares of Forward Air from $31.00 to $36.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group set a $47.00 price target on shares of Forward Air and gave the company a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.