Anchor Investment Management LLC Sells 340 Shares of Forward Air Co. (NASDAQ:FWRD)

Anchor Investment Management LLC reduced its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 22.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,190 shares of the transportation company’s stock after selling 340 shares during the quarter. Anchor Investment Management LLC’s holdings in Forward Air were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FWRD. Louisiana State Employees Retirement System lifted its holdings in Forward Air by 3.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the transportation company’s stock valued at $303,000 after purchasing an additional 600 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Forward Air by 62.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,990 shares of the transportation company’s stock worth $70,000 after buying an additional 763 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Forward Air during the 3rd quarter worth about $39,000. Creative Planning boosted its holdings in shares of Forward Air by 6.0% during the 3rd quarter. Creative Planning now owns 19,885 shares of the transportation company’s stock worth $704,000 after buying an additional 1,129 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in Forward Air in the 2nd quarter valued at about $26,000. 97.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Jefferies Financial Group set a $47.00 price target on Forward Air and gave the stock a “buy” rating in a report on Friday, October 18th. Stifel Nicolaus lifted their target price on Forward Air from $31.00 to $36.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded shares of Forward Air to a “sell” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Forward Air has an average rating of “Hold” and an average target price of $39.25.

Forward Air Trading Down 2.0 %

Shares of NASDAQ:FWRD opened at $32.84 on Friday. The company has a debt-to-equity ratio of 5.07, a current ratio of 1.21 and a quick ratio of 1.21. Forward Air Co. has a 1 year low of $11.21 and a 1 year high of $67.20. The company has a market capitalization of $950.85 million, a P/E ratio of -1.38 and a beta of 1.02. The business’s 50 day simple moving average is $35.84 and its 200 day simple moving average is $29.71.

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.