Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Forward Air Corporation shares valued at $321,650 were purchased by Campbell C Robert on Aug 18. At $64.33 per share, Campbell C Robert acquired 5,000 shares. The insider’s holdings grew to 28,994 shares worth approximately $1.98 million following the completion of this transaction.
Also, Carlock Craig purchased 1,600 shares, netting a total of over 103,744 in proceeds. Following the buying of shares at $64.84 each, the insider now holds 16,550 shares.
Before that, POLIT JAVIER had added 1,000 shares to its account. In a trade valued at $64,590, the Director bought Forward Air Corporation shares for $64.59 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.43 million.
As published in a research note from Robert W. Baird on August 15, 2023, Forward Air Corporation [FWRD] has been rated down from an Outperform to a Neutral and the price target has been revised to $80 from $130. This represents a 14.81% premium over Thursday’s closing price.
Analyzing FWRD Stock Performance
On Thursday, Forward Air Corporation [NASDAQ: FWRD] rose 5.25% to $68.15. The stock’s lowest price that day was $64.12, but it reached a high of $68.34 in the same session. During the last five days, there has been a surge of approximately 7.48%. Over the course of the year, Forward Air Corporation shares have dropped approximately -35.03%. Shares of the company reached a 52-week high of $121.38 on 07/27/23 and a 52-week low of $60.09 on 08/17/23. A 50-day SMA is recorded $101.21, while a 200-day SMA reached $103.97. Nevertheless, trading volume fell to 1.06 million shares from 1.15 million shares the previous day.
Support And Resistance Levels for Forward Air Corporation (FWRD)
According to the 24-hour chart, there is a support level at 65.40, which, if violated, would cause prices to drop to 62.65. In the upper region, resistance lies at 69.62. The next price resistance is at 71.09. RSI (Relative Strength Index) is 24.93 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -13.81, which suggests the price will decrease in the coming days. Percent R is at 84.87%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Forward Air Corporation subject to short interest?
Stocks of Forward Air Corporation saw a sharp rise in short interest on Jul 30, 2023 jumping by 0.11 million shares to 0.46 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 0.35 million shares. A jump of 24.41% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.01 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.01.
Which companies own the most shares of Forward Air Corporation (FWRD)?
According to BlackRock Fund Advisors filings, the company currently owns 3,763,594 shares, which is about 14.50% of the total FWRD shares outstanding. The investor’s shares have plunged by -58,132 from its previous 13-F filing of 3821726.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $341,926,448. Thrivent Asset Management LLC acquire a 38.34% interest valued at $187.84 million while Neuberger Berman Investment Advis sold a -44,761 stake. A total of 29,028 shares of Forward Air Corporation were sold by Silvercrest Asset Management Grou during the quarter, and 3,350 were bought by ClearBridge Investments LLC. In its current portfolio, SSgA Funds Management, Inc. holds 974,034 shares valued at $115.75 million.