Hedge Funds Are Buying Forward Air Corporation (FWRD)

Page 1 of 2

Forward Air Corporation (NASDAQ:FWRD) was in 13 hedge funds’ portfolio at the end of March. FWRD shareholders have witnessed an increase in enthusiasm from smart money of late. There were 7 hedge funds in our database with FWRD positions at the end of the previous quarter.

To the average investor, there are tons of gauges shareholders can use to monitor Mr. Market. Two of the best are hedge fund and insider trading movement. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best investment managers can outclass their index-focused peers by a superb amount (see just how much).

Forward Air Corporation (NASDAQ:FWRD)

Just as integral, positive insider trading sentiment is another way to parse down the world of equities. There are lots of reasons for an insider to cut shares of his or her company, but only one, very clear reason why they would behave bullishly. Plenty of empirical studies have demonstrated the market-beating potential of this strategy if piggybackers understand what to do (learn more here).

Keeping this in mind, it’s important to take a glance at the recent action surrounding Forward Air Corporation (NASDAQ:FWRD).

How are hedge funds trading Forward Air Corporation (NASDAQ:FWRD)?

At the end of the first quarter, a total of 13 of the hedge funds we track were bullish in this stock, a change of 86% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings considerably.

When looking at the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the biggest position in Forward Air Corporation (NASDAQ:FWRD). Royce & Associates has a $94.6 million position in the stock, comprising 0.3% of its 13F portfolio. Sitting at the No. 2 spot is Jim Simons of Renaissance Technologies, with a $8.8 million position; less than 0.1%% of its 13F portfolio is allocated to the company. Some other hedge funds that hold long positions include Ken Griffin’s Citadel Investment Group, Israel Englander’s Millennium Management and John Overdeck and David Siegel’s Two Sigma Advisors.

With a general bullishness amongst the heavyweights, key hedge funds were leading the bulls’ herd. Millennium Management, managed by Israel Englander, initiated the most valuable position in Forward Air Corporation (NASDAQ:FWRD). Millennium Management had 2 million invested in the company at the end of the quarter. Paul Tudor Jones’s Tudor Investment Corp also made a $0.7 million investment in the stock during the quarter. The following funds were also among the new FWRD investors: D. E. Shaw’s D E Shaw, Mike Vranos’s Ellington, and Matthew Tewksbury’s Stevens Capital Management.

What do corporate executives and insiders think about Forward Air Corporation (NASDAQ:FWRD)?

Insider trading activity, especially when it’s bullish, is particularly usable when the company in question has experienced transactions within the past 180 days. Over the last half-year time frame, Forward Air Corporation (NASDAQ:FWRD) has experienced zero unique insiders buying, and 7 insider sales (see the details of insider trades here).

Let’s also take a look at hedge fund and insider activity in other stocks similar to Forward Air Corporation (NASDAQ:FWRD). These stocks are XPO Logistics Inc (NYSE:XPO), Air Transport Services Group Inc. (NASDAQ:ATSG), Roadrunner Transportation Systems Inc (NYSE:RRTS), UTi Worldwide Inc. (NASDAQ:UTIW), and Hub Group Inc (NASDAQ:HUBG). This group of stocks belong to the air delivery & freight services industry and their market caps match FWRD’s market cap.

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

The 10 Most Peaceful Countries in the World

5 Big Reasons Communism Failed

The 15 Most Famous Carl Icahn Quotes

10 Scary Animals that are Actually Harmless

The 8 Most Famous Singer-Actors in Entertainment

The 10 Longest Wars of All Time

The 13 Worst Looking Foods that Taste Great

The 6 Most Gruesome Injuries Suffered During a Sports Match

The 20 Biggest Contracts in MLB History

The 7 Worst Blown Calls in Sports History

7 Free Ways to Advertise Your Business Online

The 18 Best R&B Songs of the 90’s

The 10 Most Dangerous States to be a Cop

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!