Cetus Capital Vi, L.P. Sells 120,000 Shares of Forward Air (NASDAQ:FWRD) Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 120,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $21.83, for a total value of $2,619,600.00. Following the completion of the sale, the insider owned 3,193,709 shares of the company’s stock, valued at $69,718,667.47. The trade was a 3.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Forward Air Stock Performance

Shares of FWRD stock opened at $27.60 on Thursday. The company 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 1-year low of $9.78 and a 1-year high of $32.47. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 8.73. The stock’s fifty day simple moving average is $27.06 and its 200-day simple moving average is $25.72.

Analyst Upgrades and Downgrades

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

Institutional Trading of Forward Air

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings 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 valued at $6,451,000 after purchasing an additional 296,001 shares in the last quarter. AQR Capital Management LLC increased 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 buying an additional 654 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $299,000 after buying an additional 624 shares in the last quarter. Intech Investment Management LLC lifted its position 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 worth $1,467,000 after buying an additional 28,564 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted 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 worth $238,000 after buying an additional 2,400 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

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.

About Forward Air

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.