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Is Forward Air Corporation (FWRD) a Good Stock to Invest in?

With a general bullishness amongst the heavyweights, key money managers have been driving this bullishness. Point72 Asset Management, led by Steve Cohen, initiated the most outsized position in Forward Air Corporation (NASDAQ:FWRD). Point72 Asset Management had $0.6 million invested in the company at the end of September. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also initiated a $0.5 million position during the third quarter. The other funds with brand new FWRD positions are Paul Tudor Jones’ Tudor Investment Corp and Matthew Tewksbury’s Stevens Capital Management.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Forward Air Corporation (NASDAQ:FWRD) but similarly valued. We will take a look at Horace Mann Educators Corporation (NYSE:HMN), Noah Holdings Limited (ADR) (NYSE:NOAH), Cheetah Mobile Inc (ADR) (NYSE:CMCM), and Globant SA (NYSE:GLOB). This group of stocks’ market caps match FWRD’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
HMN 11 28980 -2
NOAH 8 52556 2
CMCM 5 23052 -1
GLOB 10 55050 2

As you can see these stocks had an average of nine funds with bullish positions and the average amount invested in these stocks was $40 million. That figure was $149 million in FWRD’s case. Horace Mann Educators Corporation (NYSE:HMN) is the most popular stock in this table. On the other hand Cheetah Mobile Inc (ADR) (NYSE:CMCM) is the least popular one with only five bullish hedge fund positions. Compared to these stocks Forward Air Corporation (NASDAQ:FWRD) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none

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