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

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. purchased 225,000 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average cost of $17.93 per share, for a total transaction of $4,034,250.00. Following the completion of the acquisition, the insider directly owned 3,388,709 shares of the company’s stock, valued at $60,759,552.37. This represents a 7.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Forward Air Price Performance

Shares of Forward Air stock opened at $27.24 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 8.73. Forward Air Corporation has a twelve month low of $9.78 and a twelve month high of $32.47. The business has a 50-day moving average price of $27.03 and a 200 day moving average price of $25.71. The firm has a market cap of $851.25 million, a PE ratio of -7.08 and a beta of 1.35.

Institutional Investors Weigh In On Forward Air

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in shares of Forward Air by 26.9% during 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 period. Tower Research Capital LLC TRC increased its position in shares of Forward Air by 207.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after buying an additional 1,753 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Forward Air during the fourth quarter worth about $74,000. AlphaQuest LLC lifted its stake in Forward Air by 541.5% in 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. Finally, Lazard Asset Management LLC purchased a new stake in shares of Forward Air in the second quarter valued at $107,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FWRD. Susquehanna upped their price objective 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. Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Stifel Nicolaus raised 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. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Forward Air currently has a consensus rating of “Hold” and an average target price of $35.00.

Key Forward Air News

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

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.