There has been some selling insider activity on Forward Air Corporation (NASDAQ:FWRD) recently. C. Robert Campbell, Director disclosed the sale of 1,718 shares of (FWRD). The shares were sold on June 8th for an average price of $52.99. Campbell now owns $1,041,359 of the stock per the Form 4 SEC filing. Chairman Bruce A. Campbell sold 8,038 shares at an average price of $52.20 on Tue the 30th. That brings Campbell’s holdings to $9,825,867 as recorded in a recent Form 4 SEC filing.
Bruce A. Campbell, Chairman disclosed the sale of 20,529 shares. The shares sold for $51.61. The Chairman now owns $9,714,808 of the stock according to the SEC filing.
Forward Air Corporation, launched on October 23, 1981, 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 Business’s segments include Expedited LTL, Truckload Premium Services (TLS), Intermodal and Pool Distribution..
Here are some other firms who have updated their holdings. As of quarter end Morgan Stanley had acquired 2,254 shares growing its holdings by 26.4%. The value of the investment in Forward Air Corporation increased from $405,000 to $514,000 a change of 26.9% quarter over quarter. Goldman Sachs Group Inc cut its stake by selling 225,218 shares a decrease of 29.6% in the quarter. Goldman Sachs Group Inc controls 534,400 shares worth $25,421,000. The value of the position overall is down by 29.4%.
As of the end of the quarter Vulcan Value Partners, LLC had bought a total of 12,679 shares growing its stake by 1.2%. The value of the investment in FWRD went from $50,054,000 to $50,858,000 increasing 1.6% for the reporting period. Daruma Capital Management LLC expanded its investment by buying 12,095 shares an increase of 1.2% from 12/31/2016 to 03/31/2017. Daruma Capital Management LLC now controls 1,054,576 shares with a value of $50,166,000. The total value of its holdings increased 1.6%.
On December 2 the company was downgraded from “Outperform” to “Neutral” by analysts at Baird. On July 12 the company was rated “Hold” according to a BB&T Capital report a cut from the previous “Buy” rating.
On May 24 the stock rating was upgraded to “Outperform” from “” in a report from RBC Capital. On November 17 the company was upgraded to “Outperform” from “Neutral” by Baird.
On July 23 Macquarie made no change to the company rating of “Neutral” but lowered the price target from $57.00 to $54.00. July 23 investment analysts at Baird left the company rating at “Neutral” and lowered the price expectation to $56.00 from $60.00.
In the market the company is trading up since yesterday’s close of $53.42. Forward Air Corporation also declared a dividend paid on Friday the 9th of June 2017. The dividend was $0.150 per share for the quarter which comes to $0.60 on an annualized basis. The dividend yield was $1.12. The ex-dividend date was Tuesday the 23rd of May 2017.
The stock is trading at $53.68 just above the 50 day moving average which is $51.59 and marginally over the 200 day moving average of $49.17. The 50 day moving average was up by +4.15% and the 200 day average moved up $4.56.
The P/E ratio is 57.40 and market cap is 1.62B. In the last earnings report the EPS was $0.94 and is projected to be $2.31 for the current year with 30,214,000 shares outstanding. Analysts expect next quarter’s EPS to be $0.60 with next year’s EPS anticipated to be $2.66.
Traders are feeling more bearish on Forward Air Corporation if you take into consideration the change in short interest. The company had a rise in short interest of 18.69% as of May 31, 2017 from the last reporting period. Short shares grew 83,334 over that period. The short-interest ratio decreased to 3.9 and the percentage of shorted shares is 0.02% as of May 31.