Los Angeles Capital Management & Equity Research Inc. bought a new stake in Forward Air Corporation (NASDAQ:FWRD) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,783 shares of the transportation company’s stock, valued at approximately $445,000.

Several other hedge funds have also added to or reduced their stakes in FWRD. Cambiar Investors LLC bought a new position in shares of Forward Air in the third quarter valued at approximately $8,421,000. Victory Capital Management Inc. grew its holdings in shares of Forward Air by 12.5% in the third quarter. Victory Capital Management Inc. now owns 1,255,469 shares of the transportation company’s stock valued at $71,850,000 after acquiring an additional 139,363 shares in the last quarter. AHL Partners LLP grew its holdings in shares of Forward Air by 358.3% in the second quarter. AHL Partners LLP now owns 95,269 shares of the transportation company’s stock valued at $5,076,000 after acquiring an additional 74,480 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Forward Air by 93.2% in the second quarter. Alliancebernstein L.P. now owns 86,110 shares of the transportation company’s stock valued at $4,588,000 after acquiring an additional 41,540 shares in the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of Forward Air by 58.5% in the second quarter. Gotham Asset Management LLC now owns 61,757 shares of the transportation company’s stock valued at $3,290,000 after acquiring an additional 22,786 shares in the last quarter. 95.86% of the stock is owned by institutional investors.

FWRD has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on Forward Air from $47.00 to $52.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Robert W. Baird reaffirmed a “hold” rating and issued a $60.00 target price on shares of Forward Air in a report on Friday, October 6th. KeyCorp reaffirmed a “hold” rating on shares of Forward Air in a report on Friday, September 22nd. Cowen reissued a “hold” rating and set a $51.00 price objective on shares of Forward Air in a report on Thursday, August 10th. Finally, Zacks Investment Research lowered Forward Air from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $55.33.

In other Forward Air news, CEO Bruce A. Campbell sold 500 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $55.45, for a total transaction of $27,725.00. Following the completion of the transaction, the chief executive officer now directly owns 153,454 shares of the company’s stock, valued at $8,509,024.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Bruce A. Campbell sold 34,281 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $55.01, for a total value of $1,885,797.81. Following the transaction, the chairman now directly owns 155,831 shares of the company’s stock, valued at $8,572,263.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,413 shares of company stock valued at $4,188,859. 2.40% of the stock is owned by corporate insiders.

Forward Air Corporation (NASDAQ:FWRD) opened at $56.92 on Friday. Forward Air Corporation has a twelve month low of $43.88 and a twelve month high of $59.97. The firm has a market capitalization of $1,690.00, a price-to-earnings ratio of 24.85 and a beta of 1.20. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.08.

Forward Air (NASDAQ:FWRD) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. Forward Air had a return on equity of 13.76% and a net margin of 6.10%. The business had revenue of $280.20 million during the quarter, compared to analyst estimates of $278.75 million. During the same period in the prior year, the company earned $0.51 earnings per share. Forward Air’s revenue was up 12.3% compared to the same quarter last year. equities research analysts predict that Forward Air Corporation will post 2.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Thursday, November 23rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.05%. The ex-dividend date is Tuesday, November 21st. Forward Air’s dividend payout ratio (DPR) is 28.17%.

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Forward Air 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 (NASDAQ:FWRD)

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