Cetus Capital Vi, L.P. Sells 75,000 Shares of Forward Air (NASDAQ:FWRD) Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $21.85, for a total value of $1,638,750.00. Following the transaction, the insider owned 3,313,709 shares of the company’s stock, valued at approximately $72,404,541.65. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Forward Air Price Performance

NASDAQ FWRD opened at $27.60 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 8.73. Forward Air Corporation has a 12 month low of $9.78 and a 12 month high of $32.47. The stock has a market cap of $862.50 million, a price-to-earnings ratio of -7.17 and a beta of 1.35. The company’s 50 day moving average is $27.06 and its two-hundred day moving average is $25.72.

Key Headlines Impacting Forward Air

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.

Institutional Trading of Forward Air

Several hedge funds have recently modified their holdings of FWRD. Garton & Associates Financial Advisors LLC bought a new stake in Forward Air in the fourth quarter worth $36,000. Nisa Investment Advisors LLC grew its stake in shares of Forward Air by 26.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock worth $61,000 after buying an additional 530 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Forward Air by 207.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock worth $64,000 after buying an additional 1,753 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Forward Air in the 4th quarter worth about $74,000. Finally, AlphaQuest LLC raised its position in shares of Forward Air by 541.5% during the 3rd quarter. AlphaQuest LLC now owns 3,015 shares of the transportation company’s stock valued at $77,000 after buying an additional 2,545 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.