Anthracite Investment Company Inc. Purchases New Position in Forward Air Co. (NASDAQ:FWRD)

Anthracite Investment Company Inc. acquired a new stake in Forward Air Co. (NASDAQ:FWRD) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 70,015 shares of the transportation company’s stock, valued at approximately $2,258,000.

A number of other large investors have also recently bought and sold shares of the business. Fox Run Management L.L.C. acquired a new stake in Forward Air in the 4th quarter valued at about $300,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Forward Air in the fourth quarter worth approximately $235,000. American Century Companies Inc. acquired a new stake in shares of Forward Air during the 4th quarter worth $317,000. Quantbot Technologies LP raised its holdings in shares of Forward Air by 66.0% in the 4th quarter. Quantbot Technologies LP now owns 38,114 shares of the transportation company’s stock worth $1,229,000 after purchasing an additional 15,158 shares during the period. Finally, Intech Investment Management LLC lifted its position in Forward Air by 260.5% during the fourth quarter. Intech Investment Management LLC now owns 44,476 shares of the transportation company’s stock valued at $1,434,000 after buying an additional 32,139 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FWRD shares. Robert W. Baird lowered their price target on shares of Forward Air from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Benchmark reissued a “hold” rating on shares of Forward Air in a report on Tuesday, January 7th. Finally, Stifel Nicolaus boosted their price objective on Forward Air from $34.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.00.

Forward Air Stock Performance

Shares of FWRD opened at $20.91 on Wednesday. Forward Air Co. has a 52 week low of $11.21 and a 52 week high of $40.92. The company has a debt-to-equity ratio of 5.07, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $605.43 million, a PE ratio of -0.88 and a beta of 1.08. The company’s 50 day moving average price is $27.49 and its 200 day moving average price is $32.14.

Forward Air Profile

Forward Air Corporation, together with its subsidiaries, operates as an asset-light freight and logistics company in the United States and Canada. It operates in two segments, Expedited Freight and Intermodal. The Expedited Freight segment provides expedited regional, inter-regional, and national less-than-truckload services; local pick-up and delivery services; and other services, which include shipment consolidation and deconsolidation, warehousing, customs brokerage, and other handling.