Ameriprise Financial Inc. cut its stake in Forward Air Corporation (NASDAQ:FWRD) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,462 shares of the transportation company’s stock after selling 12,705 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.77% of Forward Air Corporation worth $12,438,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Forward Air Corporation by 157,904.2% in the first quarter. BlackRock Inc. now owns 3,803,161 shares of the transportation company’s stock valued at $180,917,000 after purchasing an additional 3,800,754 shares during the period. US Bancorp DE raised its position in shares of Forward Air Corporation by 22.6% in the second quarter. US Bancorp DE now owns 2,411 shares of the transportation company’s stock valued at $129,000 after purchasing an additional 445 shares during the period. Vanguard Group Inc. raised its position in shares of Forward Air Corporation by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,678,842 shares of the transportation company’s stock valued at $127,433,000 after purchasing an additional 114,244 shares during the period. Renaissance Technologies LLC raised its position in shares of Forward Air Corporation by 53.9% in the first quarter. Renaissance Technologies LLC now owns 62,239 shares of the transportation company’s stock valued at $2,961,000 after purchasing an additional 21,800 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of Forward Air Corporation by 53.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,231 shares of the transportation company’s stock valued at $545,000 after purchasing an additional 3,557 shares during the period. 96.18% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on FWRD shares. BidaskClub raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Cowen and Company reissued a “hold” rating and issued a $51.00 price objective on shares of Forward Air Corporation in a research report on Thursday, August 10th. Wolfe Research lowered shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 1st. KeyCorp reissued a “hold” rating on shares of Forward Air Corporation in a research report on Friday, September 22nd. Finally, Zacks Investment Research lowered shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Forward Air Corporation has a consensus rating of “Hold” and a consensus price target of $52.67.

Forward Air Corporation (NASDAQ:FWRD) opened at 58.70 on Monday. The company’s 50-day moving average is $53.86 and its 200-day moving average is $51.85. Forward Air Corporation has a 52-week low of $40.07 and a 52-week high of $58.75. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 30.70 and a beta of 1.12.

Forward Air Corporation (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. Forward Air Corporation had a return on equity of 13.31% and a net margin of 5.68%. The business had revenue of $267.50 million for the quarter, compared to analysts’ expectations of $256.98 million. During the same period in the previous year, the business posted $0.57 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, analysts expect that Forward Air Corporation will post $2.35 earnings per share for the current fiscal year.

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In related news, CAO Michael P. Mclean sold 2,495 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $52.00, for a total value of $129,740.00. Following the sale, the chief accounting officer now directly owns 20,880 shares in the company, valued at approximately $1,085,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael P. Mclean sold 4,984 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $54.82, for a total value of $273,222.88. Following the completion of the sale, the insider now owns 13,401 shares in the company, valued at $734,642.82. The disclosure for this sale can be found here. Insiders sold a total of 23,197 shares of company stock worth $1,205,367 over the last 90 days. 2.40% of the stock is currently owned by company insiders.

Forward Air Corporation 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.

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

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