Cetus Capital Vi, L.P. Acquires 225,000 Shares of Forward Air (NASDAQ:FWRD) Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. acquired 225,000 shares of Forward Air stock in a transaction that occurred on Monday, October 20th. The stock was bought at an average cost of $17.93 per share, with a total value of $4,034,250.00. Following the acquisition, the insider directly owned 3,388,709 shares of the company’s stock, valued at approximately $60,759,552.37. This trade represents a 7.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Forward Air Stock Up 1.3%

Forward Air stock opened at $27.60 on Thursday. Forward Air Corporation has a 52 week low of $9.78 and a 52 week 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 price is $27.06 and its two-hundred day moving average price is $25.72. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 8.73.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FWRD shares. Susquehanna boosted their price objective on 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 reissued a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Jefferies Financial Group restated a “buy” rating on shares of Forward Air in a research report on Thursday, November 6th. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Finally, Stifel Nicolaus raised their target price on shares of Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.00.

Forward Air News Summary

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 Inflows and Outflows

Several institutional investors have recently made changes to their positions in FWRD. Clear Harbor Asset Management LLC purchased a new position in shares of Forward Air during the 3rd quarter valued at $1,091,000. Rothschild Investment LLC boosted its position in Forward Air by 337,481.3% during the third quarter. Rothschild Investment LLC now owns 270,065 shares of the transportation company’s stock valued at $6,924,000 after purchasing an additional 269,985 shares during the last quarter. Private Management Group Inc. grew its stake in Forward Air by 8.7% in the second 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 in the last quarter. Jefferies Financial Group Inc. increased its position in Forward Air by 7.0% in the 2nd quarter. Jefferies Financial Group Inc. now owns 384,634 shares of the transportation company’s stock worth $9,439,000 after purchasing an additional 25,283 shares during the last quarter. Finally, Caxton Associates LLP raised its stake in shares of Forward Air by 124.2% during the 2nd quarter. Caxton Associates LLP now owns 107,113 shares of the transportation company’s stock worth $2,629,000 after purchasing an additional 59,345 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.