Oasis Management Co Ltd. Invests $4.45 Million in Forward Air Corporation $FWRD

Oasis Management Co Ltd. purchased a new position in Forward Air Corporation (NASDAQ:FWRD) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 173,432 shares of the transportation company’s stock, valued at approximately $4,447,000. Forward Air makes up about 0.4% of Oasis Management Co Ltd.’s holdings, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Forward Air by 207.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock worth $64,000 after acquiring an additional 1,753 shares during the last quarter. AlphaQuest LLC boosted its stake in Forward Air by 541.5% during the 3rd quarter. AlphaQuest LLC now owns 3,015 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 2,545 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Forward Air during the 2nd quarter valued at $107,000. Police & Firemen s Retirement System of New Jersey increased its holdings in shares of Forward Air by 12.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,725 shares of the transportation company’s stock worth $140,000 after purchasing an additional 629 shares in the last quarter. Finally, MAI Capital Management increased its holdings in shares of Forward Air by 51.2% in the 2nd quarter. MAI Capital Management now owns 5,904 shares of the transportation company’s stock worth $145,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FWRD shares. Susquehanna reaffirmed a “positive” rating and set a $42.00 price target on shares of Forward Air in a report on Tuesday, February 24th. Zacks Research downgraded Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Stifel Nicolaus boosted their target price on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Forward Air has an average rating of “Hold” and an average target price of $37.00.

Forward Air Trading Down 4.6%

NASDAQ:FWRD opened at $15.80 on Friday. The company has a market cap of $493.75 million, a PE ratio of -4.49 and a beta of 1.33. The company has a current ratio of 1.22, a quick ratio of 1.20 and a debt-to-equity ratio of 10.58. The company has a 50 day simple moving average of $26.42 and a two-hundred day simple moving average of $25.05. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $32.47.

Forward Air (NASDAQ:FWRD) last released its quarterly earnings results on Monday, February 23rd. The transportation company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). The firm had revenue of $631.23 million for the quarter, compared to the consensus estimate of $629.60 million. Forward Air had a negative net margin of 4.32% and a negative return on equity of 42.67%. Forward Air’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.23) earnings per share. Research analysts forecast that Forward Air Corporation will post -0.72 earnings per share for the current year.

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.