5 Best 52-Week Low Stocks To Buy Now

3. Forward Air Corp (NASDAQ:FWRD)

Number of Hedge Fund Investors: 22

Forward Air Corp (NASDAQ:FWRD) has lost about 55% in value over the past one year. But the stock recently gained after reports that its legal issues with Omni Logistics were settled and Forward Air Corp (NASDAQ:FWRD) recently confirmed that it has completed the acquisition of Omni Logistics.

Vulcan Value Partners made the following comment about Forward Air Corporation (NASDAQ:FWRD) in its Q3 2023 investor letter:

“During the quarter we sold Forward Air Corporation (NASDAQ:FWRD). The company announced its decision to acquire Omni Logistics for an enterprise value of $3.2 billion. The transaction will significantly increase leverage at the pro forma company and will materially dilute existing shareholders. We also think that the transaction has questionable strategic rationale and significant execution risk. In sum, the transaction not only reduced our estimate of intrinsic value per share, but made that estimate unstable, leading to our decision to exit the position.”