9,772 Shares in Forward Air Co. (NASDAQ:FWRD) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in Forward Air Co. (NASDAQ:FWRD) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,772 shares of the transportation company’s stock, valued at approximately $315,000.

Several other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. increased its position in shares of Forward Air by 742.9% during the fourth quarter. Point72 Asset Management L.P. now owns 463,600 shares of the transportation company’s stock worth $14,951,000 after acquiring an additional 408,600 shares in the last quarter. ProShare Advisors LLC bought a new position in shares of Forward Air in the fourth quarter valued at about $240,000. Quantinno Capital Management LP raised its position in shares of Forward Air by 9.7% in the fourth quarter. Quantinno Capital Management LP now owns 6,949 shares of the transportation company’s stock valued at $224,000 after purchasing an additional 615 shares during the period. Numerai GP LLC bought a new position in shares of Forward Air in the fourth quarter valued at about $1,012,000. Finally, Marathon Partners Equity Management LLC bought a new position in Forward Air during the fourth quarter worth about $242,000. Institutional investors own 97.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on FWRD. Stifel Nicolaus reduced their price objective on shares of Forward Air from $29.00 to $22.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Susquehanna cut their target price on shares of Forward Air from $35.00 to $32.00 and set a “positive” rating on the stock in a research report on Monday, March 31st. Finally, Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.25.

Forward Air Stock Up 0.5%

Shares of Forward Air stock opened at $18.88 on Friday. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. Forward Air Co. has a 52-week low of $9.79 and a 52-week high of $40.92. The stock has a market capitalization of $574.39 million, a price-to-earnings ratio of -0.79 and a beta of 1.24. The company’s 50 day moving average price is $17.00 and its 200-day moving average price is $26.84.

About Forward Air

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.