Sat Sep 28 12:51:58 UTC 2024: ## Canada Pension Plan Investment Board Cuts Stake in Forward Air

**MarketBeat News** – The Canada Pension Plan Investment Board (CPPIB) significantly reduced its holdings in Forward Air Co. (NASDAQ:FWRD) during the second quarter, selling off 67.6% of its shares. This move comes as a number of other hedge funds have been making changes to their positions in the transportation company.

CPPIB now owns 30,000 shares of Forward Air, valued at $571,000, representing 0.11% of the company.

Meanwhile, several other hedge funds have increased their stakes in Forward Air:

* UMB Bank n.a. grew its holdings by 413.5% in the first quarter, now owning 837 shares valued at $26,000.
* Gladius Capital Management LP boosted its holdings by 33.5% in the second quarter, now owning 1,964 shares worth $37,000.
* GAMMA Investing LLC significantly increased its holdings by 2,329.3% in the second quarter, now owning 1,992 shares worth $38,000.
* Headlands Technologies LLC boosted its holdings by 98.5% in the first quarter, now owning 1,634 shares worth $51,000.
* TFO Wealth Partners LLC dramatically increased its holdings by 116,200.0% in the fourth quarter, now owning 1,163 shares worth $73,000.

These moves highlight the continued interest in Forward Air, with institutional investors and hedge funds owning 97.03% of the stock.

Forward Air Corporation, based in the United States and Canada, is an asset-light freight and logistics company. It operates in two segments, Expedited Freight and Intermodal, providing expedited regional, inter-regional, and national less-than-truckload services. The company also offers local pick-up and delivery services, warehousing, customs brokerage, and other handling.

Research firms have varied opinions on Forward Air. Benchmark restated a “hold” rating, while Robert W. Baird boosted its price target from $17.00 to $24.00. One analyst has issued a sell rating, four have issued a hold rating, and one has given a buy rating. Forward Air currently has an average rating of “Hold” with a consensus price target of $51.00.

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