Cetus Capital Vi, L.P. Sells 10,000 Shares of Forward Air (NASDAQ:FWRD) Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $22.38, for a total value of $223,800.00. Following the sale, the insider owned 3,116,546 shares of the company’s stock, valued at $69,748,299.48. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Forward Air Stock Performance

NASDAQ:FWRD opened at $27.60 on Thursday. 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 cap of $862.50 million, a price-to-earnings ratio of -7.17 and a beta of 1.35. The firm’s fifty day moving average price is $27.06 and its 200 day moving average price is $25.72. Forward Air Corporation has a 1-year low of $9.78 and a 1-year high of $32.47.

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

Large investors have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Forward Air by 1,179.7% during the 1st quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after buying an additional 296,001 shares during the last quarter. AQR Capital Management LLC raised its position in Forward Air by 7.0% during the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after acquiring an additional 654 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Forward Air by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock worth $299,000 after acquiring an additional 624 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Forward Air by 64.2% in the first quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company’s stock valued at $1,467,000 after purchasing an additional 28,564 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its position in shares of Forward Air by 32.9% in the second quarter. KLP Kapitalforvaltning AS now owns 9,700 shares of the transportation company’s stock valued at $238,000 after purchasing an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Analyst Ratings Changes

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