Forward Air (NASDAQ:FWRD) Major Shareholder Cetus Capital Vi, L.P. Sells 67,163 Shares

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 67,163 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $21.71, for a total transaction of $1,458,108.73. Following the transaction, the insider owned 3,126,546 shares of the company’s stock, valued at approximately $67,877,313.66. This represents a 2.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Forward Air Stock Performance

Shares of NASDAQ FWRD opened at $27.24 on Wednesday. The company has a market cap of $851.25 million, a P/E ratio of -7.08 and a beta of 1.35. Forward Air Corporation has a 52-week low of $9.78 and a 52-week high of $32.47. The company has a debt-to-equity ratio of 8.73, a quick ratio of 1.20 and a current ratio of 1.20. The firm’s fifty day moving average is $27.03 and its two-hundred day moving average is $25.71.

Hedge Funds Weigh In On Forward Air

A number of large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in Forward Air by 26.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,499 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 530 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Forward Air by 207.0% during 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 during the period. Kestra Advisory Services LLC bought a new position in shares of Forward Air during the fourth quarter valued at approximately $74,000. AlphaQuest LLC raised its holdings in shares of Forward Air by 541.5% in the third 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 period. Finally, Lazard Asset Management LLC bought a new stake in shares of Forward Air during the 2nd quarter worth approximately $107,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

More 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

Analysts Set New Price Targets

Several equities analysts have weighed in on FWRD shares. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Jefferies Financial Group reissued a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Stifel Nicolaus boosted 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. Susquehanna increased their price objective 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. Finally, Zacks Research cut shares of Forward Air from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Forward Air currently has an average rating of “Hold” and an average target price of $35.00.

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.