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

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 120,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 3,193,709 shares in the company, valued at $69,718,667.47. The trade was a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Forward Air Stock Up 1.6%

Shares of Forward Air stock opened at $27.24 on Wednesday. Forward Air Corporation has a 12-month low of $9.78 and a 12-month high of $32.47. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 8.73. The stock has a 50 day moving average price of $27.03 and a two-hundred day moving average price of $25.71. The stock has a market capitalization of $851.25 million, a P/E ratio of -7.08 and a beta of 1.35.

Key Headlines Impacting Forward Air

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

Analysts Set New Price Targets

Several brokerages recently commented on FWRD. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Stifel Nicolaus boosted their price objective on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Susquehanna upped their price target on Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a report on Monday, January 5th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Forward Air in a research note on Thursday, November 6th. Three 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.00.

Hedge Funds Weigh In On Forward Air

Hedge funds have recently made changes to their positions in the business. Clear Harbor Asset Management LLC acquired a new stake in shares of Forward Air during the 3rd quarter valued at about $1,091,000. Private Management Group Inc. lifted its stake in Forward Air by 8.7% during the second quarter. Private Management Group Inc. now owns 1,046,226 shares of the transportation company’s stock worth $25,674,000 after purchasing an additional 83,600 shares during the period. Jefferies Financial Group Inc. boosted its holdings in Forward Air by 7.0% during the second quarter. Jefferies Financial Group Inc. now owns 384,634 shares of the transportation company’s stock valued at $9,439,000 after purchasing an additional 25,283 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of Forward Air by 337,481.3% in the 3rd 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 period. Finally, Caxton Associates LLP raised its holdings in shares of Forward Air by 124.2% in the 2nd quarter. Caxton Associates LLP now owns 107,113 shares of the transportation company’s stock worth $2,629,000 after buying an additional 59,345 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.