Forward Air (NASDAQ:FWRD) Major Shareholder Cetus Capital Vi, L.P. Sells 30,000 Shares

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 30,000 shares of the firm’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $21.42, for a total transaction of $642,600.00. Following the sale, the insider owned 3,063,709 shares in the company, valued at approximately $65,624,646.78. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Forward Air Price Performance

NASDAQ FWRD traded up $0.43 during trading hours on Tuesday, reaching $27.24. 480,896 shares of the stock traded hands, compared to its average volume of 561,223. The stock has a 50 day simple moving average of $27.03 and a two-hundred day simple moving average of $25.71. Forward Air Corporation has a 1 year low of $9.78 and a 1 year high of $32.47. 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 company has a market cap of $851.25 million, a price-to-earnings ratio of -7.08 and a beta of 1.35.

Forward Air News Roundup

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

• Positive Sentiment: Cetus Capital increased its stake in October by acquiring 225,000 shares at about $17.93 each (a ~7.1% bump to its holdings), which can be read as a vote of confidence from a major holder. Cetus Capital acquisition filing
• Neutral Sentiment: Forward Air is scheduled to report quarterly earnings soon, which is a routine catalyst that could move the stock depending on results and guidance. Earnings projection notice
• Neutral Sentiment: Public short-interest data shows effectively zero reported short interest and a 0.0 days-to-cover figure — this looks like an anomalous/empty data print and is unlikely to be a meaningful immediate driver. (No external article link available.)
• Negative Sentiment: Cetus Capital subsequently sold multiple blocks totaling roughly 302k shares across November (and an additional October sale), representing a several-percent reduction in its stake and proceeds of roughly $6M — heavy insider selling from a large holder can weigh on sentiment. Cetus Capital sale filings
• Negative Sentiment: Market writeups flag fundamental pressure: analysis highlights that AI-related costs and other operational headwinds could compress margins and that Forward Air faces broader challenges beyond AI alone — this type of critique can prompt caution among investors ahead of earnings. Margin and fundamentals analysis
• Negative Sentiment: News outlets summarized the recent Cetus sell-off as several million dollars of sales (reporting ~ $5.94M), reinforcing headlines around insider selling that can pressure the stock. Investing.com summary of Cetus sales

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a research note on Thursday, November 6th. Stifel Nicolaus upped their price objective on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Susquehanna upped their price target on shares of Forward Air from $42.00 to $45.00 and gave the company a “positive” rating in a research report on Monday, January 5th. Three investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Institutional Trading of Forward Air

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of Forward Air by 26.9% in the second quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock worth $61,000 after purchasing an additional 530 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in 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 period. Kestra Advisory Services LLC bought a new stake in shares of Forward Air in the 4th quarter worth approximately $74,000. AlphaQuest LLC grew its position in shares of Forward Air by 541.5% in the 3rd quarter. AlphaQuest LLC now owns 3,015 shares of the transportation company’s stock worth $77,000 after buying an additional 2,545 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Forward Air during the second quarter valued at approximately $107,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.