Cetus Capital Vi, L.P. Sells 67,163 Shares of Forward Air (NASDAQ:FWRD) Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 67,163 shares of Forward Air stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $21.71, for a total transaction of $1,458,108.73. Following the sale, the insider owned 3,126,546 shares of the company’s stock, valued at approximately $67,877,313.66. The trade was a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Forward Air Price Performance

Shares of NASDAQ:FWRD opened at $27.60 on Thursday. The company’s fifty day moving average price is $27.06 and its 200-day moving average price is $25.72. The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $862.50 million, a price-to-earnings ratio of -7.17 and a beta of 1.35. Forward Air Corporation has a one year low of $9.78 and a one year high of $32.47.

Analysts Set New Price Targets

FWRD has been the subject of a number of research reports. Zacks Research cut Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Stifel Nicolaus upped their target price on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Susquehanna lifted their price target on shares of Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a research note on Monday, January 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.00.

Institutional Investors Weigh In On Forward Air

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Forward Air by 15.1% in the third quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock valued at $60,347,000 after acquiring an additional 307,906 shares during the period. Ridgemont Partners Management LLC grew its stake in shares of Forward Air by 0.7% in the third quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company’s stock worth $49,675,000 after purchasing an additional 13,926 shares during the last quarter. Ancora Advisors LLC increased its holdings in Forward Air by 8.5% during the 3rd quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock valued at $37,820,000 after purchasing an additional 116,012 shares during the period. Private Management Group Inc. raised its position in Forward Air by 8.7% during the 2nd quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock valued at $25,674,000 after purchasing an additional 83,600 shares during the last quarter. Finally, State Street Corp lifted its holdings in Forward Air by 2.1% in the 4th quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock worth $23,745,000 after buying an additional 19,854 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

More Forward Air News

Here are the key news stories impacting Forward Air this week:

• Positive Sentiment: Cetus Capital increased its position in October, purchasing 225,000 FWRD shares at about $17.93 per share (a ~7.1% bump to its holdings). That prior buy can be interpreted as a vote of confidence from a large holder. Read More.
• Positive Sentiment: Some sell-side analysts have recently raised targets or maintained buy stances (Jefferies/ Stifel/ Susquehanna appear among the more constructive notes), giving the stock pockets of upside from expectations vs. consensus. Read More.
• Neutral Sentiment: Forward Air is nearing a scheduled quarterly earnings release — routine catalyst that could move the stock depending on revenue, margins and guidance. Read More.
• Neutral Sentiment: Key balance-sheet and market metrics are mixed: high institutional ownership (~97%), a negative trailing P/E, elevated debt-to-equity, and price sitting between its 50- and 200-day averages — factors investors will weigh alongside earnings. Read More.
• Negative Sentiment: After the October purchase, Cetus Capital sold large blocks across November (and other recent filings), amounting to several hundred thousand shares and roughly $5–6M in proceeds — heavy selling from a major holder can sap sentiment and supply the market with shares. Read More.
• Negative Sentiment: Analyst and media commentary has flagged margin pressure and operational headwinds (including higher AI/tech-related costs cited in some writeups), which could hurt near-term profitability and investor confidence ahead of results. Read More.

Forward Air Company Profile

Forward Air Corporation is a leading North American provider of expedited ground transportation and related logistics services, specializing in time-sensitive shipments. The company offers a comprehensive suite of solutions including less-than-truckload (LTL) expedited freight, consolidation and distribution services, container drayage, and final-mile delivery. By integrating transportation management with warehousing, inventory control, and technology-driven tracking, Forward Air supports customers across a variety of industries such as manufacturing, retail, automotive and chemicals.

Founded in 1981 and headquartered in Greeneville, Tennessee, Forward Air has developed a broad network of service centers, terminals and rail ramps throughout the United States, Canada and Puerto Rico.