In a recent transaction, Valerie A. Bonebrake, a director at Forward Air Corp (NASDAQ:FWRD), sold 250 shares of the company's common stock. The shares were sold at a weighted average price of $97.62, totaling approximately $24,405.
This sale took place on May 5, 2021, as revealed in a Form 4 filing with the Securities and Exchange Commission. Following the transaction, Bonebrake's direct ownership in Forward Air Corp stands at 10,154 shares. The filing indicated that the prices of shares sold may have varied, and upon request, Bonebrake is prepared to provide full details of the shares sold at each separate price to the SEC staff, the issuer, or a security holder of the issuer.
Investors and market watchers often keep an eye on insider transactions as they can provide insights into the company's performance and insider confidence. Transactions by company directors are particularly noteworthy as they can reflect the leadership's perspective on the company's current valuation and future prospects.
Forward Air Corp, based in Greeneville, Tennessee, specializes in the arrangement of transportation of freight and cargo. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol FWRD.
InvestingPro Insights
As investors digest the news of Valerie A. Bonebrake's recent stock sale, it is worth examining the current financial health and market sentiment towards Forward Air Corp (NASDAQ:FWRD). According to InvestingPro, management at Forward Air has been actively repurchasing shares, a move that often signals confidence in the company's future performance and perceived undervaluation by its leadership (InvestingPro Tip). Moreover, analysts are forecasting sales growth for the current year, suggesting potential for revenue expansion despite recent insider sales (InvestingPro Tip).
InvestingPro Data further reveals that Forward Air Corp currently holds a market capitalization of $820.38 million, with a Price/Earnings (P/E) ratio standing at 15.55 for the last twelve months as of Q4 2023. The company's revenue for the same period was reported at $1.37 billion, though it experienced a decrease of 18.39% in revenue growth year-over-year. Despite this decline, Forward Air maintains a strong gross profit margin of 28.27%, indicating a solid ability to control costs relative to revenue.
For those looking to delve deeper into Forward Air's financials and market performance, InvestingPro offers a wealth of additional insights. With a total of 13 InvestingPro Tips available, investors can gain a more nuanced understanding of the company's valuation, earnings revisions, dividend reliability, and liquidity position. To access these insights and more, visit https://www.investing.com/pro/FWRD and use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Keeping an eye on insider transactions is just one piece of the puzzle. With InvestingPro's comprehensive analysis, investors can make more informed decisions by considering a broader range of financial metrics and expert opinions.
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