AQR Capital Management LLC Buys New Stake in Forward Air Co. (NASDAQ:FWRD)

AQR Capital Management LLC bought a new stake in Forward Air Co. (NASDAQ:FWRD) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 4,932 shares of the transportation company’s stock, valued at approximately $292,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pathstone Family Office LLC purchased a new position in shares of Forward Air in the 2nd quarter valued at $31,000. Advisory Services Network LLC grew its position in shares of Forward Air by 70.8% in the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock valued at $41,000 after buying an additional 283 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Forward Air in the 2nd quarter valued at $47,000. Tower Research Capital LLC TRC grew its position in shares of Forward Air by 3,740.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,229 shares of the transportation company’s stock valued at $73,000 after buying an additional 1,197 shares during the last quarter. Finally, Advisor Group Inc. grew its position in shares of Forward Air by 5.0% in the 2nd quarter. Advisor Group Inc. now owns 3,412 shares of the transportation company’s stock valued at $201,000 after buying an additional 164 shares during the last quarter. 94.70% of the stock is currently owned by hedge funds and other institutional investors.

In other Forward Air news, insider Glenn A. Adelaar sold 4,917 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $61.05, for a total transaction of $300,182.85. Following the transaction, the insider now directly owns 41,177 shares of the company’s stock, valued at approximately $2,513,855.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.04% of the company’s stock.

NASDAQ FWRD opened at $62.25 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s fifty day moving average price is $62.23 and its 200 day moving average price is $61.49. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 19.95 and a beta of 1.54. Forward Air Co. has a 12 month low of $51.54 and a 12 month high of $68.82.

Forward Air (NASDAQ:FWRD) last posted its earnings results on Thursday, July 25th. The transportation company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.04). The company had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $348.07 million. Forward Air had a net margin of 6.70% and a return on equity of 17.18%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. As a group, sell-side analysts forecast that Forward Air Co. will post 3.2 earnings per share for the current year.

A number of research analysts recently commented on FWRD shares. Zacks Investment Research downgraded shares of Forward Air from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub downgraded shares of Forward Air from a “buy” rating to a “hold” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $70.00.

Forward Air Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United State and Canada. The company operates through four segments: Expedited Less-Than-Truckload (LTL), Truckload Premium Services (TLS), Intermodal, and Pool Distribution (Pool).

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

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