Insider Selling: Forward Air Corporation (FWRD) CAO Sells 2,495 Shares of Stock
Forward Air Corporation (NASDAQ:FWRD) CAO Michael P. Mclean sold 2,495 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $52.00, for a total transaction of $129,740.00. Following the sale, the chief accounting officer now owns 20,880 shares in the company, valued at approximately $1,085,760. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Forward Air Corporation (FWRD) traded up 0.08% during mid-day trading on Friday, reaching $50.88. 114,317 shares of the company traded hands. The stock’s 50 day moving average is $52.74 and its 200 day moving average is $50.49. The stock has a market capitalization of $1.54 billion, a PE ratio of 26.61 and a beta of 1.06. Forward Air Corporation has a 52-week low of $40.07 and a 52-week high of $56.52.
Forward Air Corporation (NASDAQ:FWRD) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Forward Air Corporation had a net margin of 5.68% and a return on equity of 13.31%. The firm had revenue of $267.50 million for the quarter, compared to analyst estimates of $256.98 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that Forward Air Corporation will post $2.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Wednesday, August 23rd. Forward Air Corporation’s dividend payout ratio is currently 31.25%.
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Large investors have recently modified their holdings of the company. Riverhead Capital Management LLC raised its stake in shares of Forward Air Corporation by 72.5% in the second quarter. Riverhead Capital Management LLC now owns 1,897 shares of the transportation company’s stock worth $101,000 after buying an additional 797 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Forward Air Corporation during the first quarter worth approximately $114,000. Huntington National Bank raised its stake in shares of Forward Air Corporation by 8.1% in the second quarter. Huntington National Bank now owns 2,204 shares of the transportation company’s stock worth $117,000 after buying an additional 165 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Forward Air Corporation during the second quarter worth approximately $117,000. Finally, TrimTabs Asset Management LLC raised its stake 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 worth $118,000 after buying an additional 1,168 shares in the last quarter. 99.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on FWRD shares. Zacks Investment Research downgraded shares of Forward Air Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 29th. Wolfe Research downgraded shares of Forward Air Corporation from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 1st. BidaskClub raised shares of Forward Air Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Stifel Nicolaus increased their price target on shares of Forward Air Corporation from $14.50 to $15.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Forward Air Corporation presently has an average rating of “Hold” and a consensus price target of $51.25.
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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