Polar Asset Management Partners Inc. Sells 89,089 Shares of Forward Air Co. (NASDAQ:FWRD)

Polar Asset Management Partners Inc. lowered its stake in Forward Air Co. (NASDAQ:FWRD) by 81.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,111 shares of the transportation company’s stock after selling 89,089 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.07% of Forward Air worth $649,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Forward Air by 11.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 755,843 shares of the transportation company’s stock valued at $24,376,000 after acquiring an additional 79,960 shares in the last quarter. Penn Capital Management Company LLC raised its position in shares of Forward Air by 17.9% in the fourth quarter. Penn Capital Management Company LLC now owns 380,947 shares of the transportation company’s stock valued at $12,286,000 after purchasing an additional 57,854 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Forward Air in the fourth quarter worth $11,140,000. Northern Trust Corp lifted its stake in shares of Forward Air by 17.3% in the fourth quarter. Northern Trust Corp now owns 295,226 shares of the transportation company’s stock worth $9,521,000 after buying an additional 43,567 shares during the last quarter. Finally, Jefferies Financial Group Inc. boosted its holdings in shares of Forward Air by 148.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 285,670 shares of the transportation company’s stock worth $9,213,000 after buying an additional 170,503 shares during the period. Institutional investors own 97.03% of the company’s stock.

Forward Air Stock Performance

NASDAQ:FWRD opened at $19.17 on Friday. The firm’s 50-day moving average is $17.04 and its 200-day moving average is $26.64. The company has a market cap of $583.21 million, a price-to-earnings ratio of -0.80 and a beta of 1.24. 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.

Analysts Set New Price Targets

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

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.