Jefferies Financial Group Inc. Has $1.48 Million Stake in Forward Air Corporation $FWRD

Jefferies Financial Group Inc. trimmed its holdings in Forward Air Corporation (NASDAQ:FWRD) by 85.7% in the fourth quarter, Holdings Channel reports. The fund owned 59,300 shares of the transportation company’s stock after selling 355,927 shares during the period. Jefferies Financial Group Inc.’s holdings in Forward Air were worth $1,482,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Forward Air by 236.4% in the fourth quarter. SG Americas Securities LLC now owns 48,812 shares of the transportation company’s stock valued at $1,220,000 after buying an additional 34,303 shares in the last quarter. Penn Capital Management Company LLC lifted its stake in Forward Air by 67.1% in the third quarter. Penn Capital Management Company LLC now owns 17,374 shares of the transportation company’s stock valued at $445,000 after buying an additional 6,977 shares in the last quarter. XTX Topco Ltd bought a new position in Forward Air in the third quarter valued at approximately $1,169,000. Sherbrooke Park Advisers LLC bought a new position in Forward Air in the third quarter valued at approximately $209,000. Finally, Prelude Capital Management LLC lifted its stake in Forward Air by 20.2% in the third quarter. Prelude Capital Management LLC now owns 21,009 shares of the transportation company’s stock valued at $539,000 after buying an additional 3,532 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Forward Air Price Performance

Shares of FWRD opened at $10.38 on Thursday. The stock has a market capitalization of $328.22 million, a P/E ratio of -3.54 and a beta of 1.59. Forward Air Corporation has a twelve month low of $7.86 and a twelve month high of $32.47. The company has a 50 day moving average of $16.10 and a 200-day moving average of $21.96. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 13.98.

Forward Air (NASDAQ:FWRD) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.74). The business had revenue of $582.05 million for the quarter, compared to the consensus estimate of $620.23 million. Forward Air had a negative return on equity of 41.21% and a negative net margin of 3.71%.Forward Air’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.68) earnings per share. As a group, equities research analysts forecast that Forward Air Corporation will post -1.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna cut their price target on shares of Forward Air from $42.00 to $18.00 and set a “positive” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research note on Tuesday, April 21st. Finally, Stifel Nicolaus set a $17.00 price target on Forward Air in a research note on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Forward Air presently has an average rating of “Hold” and an average target price of $17.50.

About Forward Air

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.