Quantamental Technologies LLC Lowers Stake in Forward Air Co. (NASDAQ:FWRD)

Quantamental Technologies LLC reduced its holdings in shares of Forward Air Co. (NASDAQ:FWRD) by 50.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 986 shares of the transportation company’s stock after selling 1,005 shares during the period. Quantamental Technologies LLC’s holdings in Forward Air were worth $58,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC grew its position in Forward Air by 70.8% during the 2nd quarter. Advisory Services Network LLC now owns 683 shares of the transportation company’s stock worth $41,000 after purchasing an additional 283 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Forward Air in the second quarter valued at about $47,000. Advisor Group Inc. boosted its holdings in shares of Forward Air by 5.0% in the second quarter. Advisor Group Inc. now owns 3,412 shares of the transportation company’s stock valued at $201,000 after acquiring an additional 164 shares in the last quarter. Wesbanco Bank Inc. purchased a new stake in shares of Forward Air in the first quarter valued at about $207,000. Finally, Trexquant Investment LP boosted its holdings in shares of Forward Air by 5.1% in the second quarter. Trexquant Investment LP now owns 3,548 shares of the transportation company’s stock valued at $210,000 after acquiring an additional 172 shares in the last quarter. 94.28% of the stock is currently owned by institutional investors.

FWRD has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Forward Air from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. BidaskClub upgraded shares of Forward Air from a “hold” rating to a “buy” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Forward Air presently has an average rating of “Hold” and an average price target of $70.00.

FWRD traded up $0.44 during trading on Friday, hitting $64.75. The company had a trading volume of 1,183 shares, compared to its average volume of 132,617. The company has a market cap of $1.82 billion, a PE ratio of 20.76 and a beta of 1.54. The business has a 50-day moving average of $61.28 and a 200-day moving average of $61.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 1.41. Forward Air Co. has a 1-year low of $51.54 and a 1-year high of $72.81.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Thursday, August 22nd were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.72 annualized dividend and a yield of 1.11%. Forward Air’s dividend payout ratio is presently 23.08%.

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

Forward Air Company 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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