Forward Air Corp. (FWRD) Shares Bought by First Trust Advisors LP
First Trust Advisors LP increased its position in Forward Air Corp. (NASDAQ:FWRD) by 108.5% during the second quarter, Holdings Channel reports. The firm owned 20,476 shares of the company’s stock after buying an additional 10,654 shares during the period. First Trust Advisors LP owned about 0.07% of Forward Air Corp. worth $912,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Forward Air Corp. during the second quarter worth about $109,000. Rothschild Asset Management Inc. bought a new stake in Forward Air Corp. during the second quarter worth about $298,000. Emerald Acquisition Ltd. bought a new stake in Forward Air Corp. during the second quarter worth about $341,000. Capstone Asset Management Co. raised its stake in Forward Air Corp. by 1.0% in the second quarter. Capstone Asset Management Co. now owns 9,188 shares of the company’s stock worth $409,000 after buying an additional 90 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in Forward Air Corp. by 97.0% in the second quarter. BNP Paribas Arbitrage SA now owns 10,069 shares of the company’s stock worth $448,000 after buying an additional 4,957 shares during the period. 98.42% of the stock is owned by institutional investors and hedge funds.
Shares of Forward Air Corp. (NASDAQ:FWRD) traded down 0.96% during trading on Friday, reaching $43.19. The company’s stock had a trading volume of 102,993 shares. The stock’s 50 day moving average price is $44.93 and its 200 day moving average price is $45.18. The company has a market cap of $1.31 billion, a PE ratio of 31.78 and a beta of 1.29. Forward Air Corp. has a 52 week low of $36.00 and a 52 week high of $50.47.
Forward Air Corp. (NASDAQ:FWRD) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.01. Forward Air Corp. had a net margin of 4.32% and a return on equity of 14.41%. The firm earned $238.60 million during the quarter, compared to analyst estimates of $247.86 million. Equities research analysts predict that Forward Air Corp. will post $2.19 EPS for the current year.
FWRD has been the topic of several recent research reports. Zacks Investment Research raised shares of Forward Air Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th. BB&T Corp. lowered shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Cowen and Company raised their price objective on shares of Forward Air Corp. from $47.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, July 25th. Finally, TheStreet lowered shares of Forward Air Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.00.
In other Forward Air Corp. news, insider Matthew J. Jewell sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $46.44, for a total value of $27,864.00. Following the completion of the sale, the insider now owns 34,910 shares of the company’s stock, valued at $1,621,220.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rodney L. Bell sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $47.01, for a total value of $56,412.00. Following the completion of the sale, the insider now directly owns 91,461 shares of the company’s stock, valued at approximately $4,299,581.61. The disclosure for this sale can be found here. 3.35% of the stock is owned by company insiders.
About Forward Air Corp.
Forward Air Corporation offers services, which are classified into three segments: Forward Air, Forward Air Solutions (FASI) and Total Quality (TQI). The Company, through its three segments, offers a range of logistic and other services, including expedited full truckload (TLX), pick-up and delivery (Forward Air Complete), pool distribution, temperature-controlled truckload, warehousing, customs brokerage and shipment consolidation and handling.
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