303,370 Shares in Forward Air Corporation (NASDAQ:FWRD) Acquired by Dalton Greiner Hartman Maher & Co.
Dalton Greiner Hartman Maher & Co. purchased a new stake in shares of Forward Air Corporation (NASDAQ:FWRD) during the second quarter, Holdings Channel reports. The institutional investor purchased 303,370 shares of the transportation company’s stock, valued at approximately $16,164,000.
Several other hedge funds have also made changes to their positions in FWRD. Ameritas Investment Partners Inc. purchased a new position in shares of Forward Air Corporation during the first quarter valued at about $114,000. TrimTabs Asset Management LLC increased its position in shares of Forward Air Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 2,482 shares of the transportation company’s stock valued at $118,000 after buying an additional 1,168 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Forward Air Corporation by 0.9% in the first quarter. State of Alaska Department of Revenue now owns 3,340 shares of the transportation company’s stock valued at $158,000 after buying an additional 30 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Forward Air Corporation during the first quarter valued at about $206,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Forward Air Corporation during the first quarter valued at about $214,000. 98.15% of the stock is currently owned by institutional investors.
Shares of Forward Air Corporation (NASDAQ:FWRD) traded down 0.35% during trading on Friday, hitting $53.56. 29,686 shares of the company traded hands. The firm has a 50 day moving average price of $53.33 and a 200-day moving average price of $50.18. Forward Air Corporation has a one year low of $40.07 and a one year high of $56.52. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 57.22 and a beta of 1.07.
Forward Air Corporation (NASDAQ:FWRD) last released its earnings results on Wednesday, April 26th. The transportation company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The business had revenue of $246.98 million for the quarter, compared to the consensus estimate of $239.47 million. Forward Air Corporation had a net margin of 2.88% and a return on equity of 13.06%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Analysts predict that Forward Air Corporation will post $2.33 EPS for the current year.
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Several equities analysts recently issued reports on FWRD shares. Stifel Nicolaus upped their price objective on shares of Forward Air Corporation from $14.50 to $15.00 and gave the company a “buy” rating in a research note on Monday, April 17th. Zacks Investment Research raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday, May 16th. Finally, BidaskClub raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $49.75.
In related news, CAO Michael P. Mclean sold 3,333 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $50.33, for a total transaction of $167,749.89. Following the completion of the sale, the chief accounting officer now directly owns 21,718 shares in the company, valued at $1,093,066.94. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $53.58, for a total transaction of $160,740.00. Following the sale, the director now owns 16,652 shares of the company’s stock, valued at $892,214.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,984 shares of company stock worth $4,008,360. 2.40% of the stock is currently owned by insiders.
Forward Air Corporation Company Profile
Forward Air Corporation is a freight and logistics company. The Company provides less-than-truckload (LTL), truckload, intermodal and pool distribution services across the United States and in Canada. The Company’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution.
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