CNBC
•83% Informative
Ancora is a family wealth investment advisory firm and fund manager with $9.5 billion in assets under management.
The firm has a nearly four-year history at Forward Air , initially filing a 13D on Dec. 28, 2020 , and ultimately settling for two board seats on March 15, 2021 .
By late 2021 , the stock began performing better after the company cleaned up the business, bringing the price to over $ 120 per share.
However, by late 2023 , the company's stock price began to languish.
Forward Air is a great company that did a bad deal.
It now has an over-levered balance sheet and bloated selling, general and administrative expenses.
What needs to be done here sell off non-core assets and restructure operations is best done in private.
Private equity firm, Clearlake Capital , filed a 13D with language suggesting their desire to engage with the board about strategic alternatives.
VR Score
82
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