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

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

Forward Air Stock Performance

Shares of NASDAQ:FWRD opened at $27.60 on Thursday. Forward Air Corporation has a 1 year low of $9.78 and a 1 year high of $32.47. The stock has a market capitalization of $862.50 million, a price-to-earnings ratio of -7.17 and a beta of 1.35. 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’s 50 day simple moving average is $27.06 and its 200 day simple moving average is $25.72.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Zacks Research cut shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Susquehanna raised their price target 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 reiterated a “buy” rating on shares of Forward Air in a research report on Thursday, November 6th. Finally, Stifel Nicolaus raised their target price on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Three research 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’s stock. According to data from MarketBeat.com, Forward Air has a consensus rating of “Hold” and an average target price of $35.00.

Trending Headlines about 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Forward Air by 15.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock worth $60,347,000 after acquiring an additional 307,906 shares during the last quarter. Ridgemont Partners Management LLC lifted its holdings in shares of Forward Air by 0.7% during the third quarter. Ridgemont Partners Management LLC now owns 1,937,405 shares of the transportation company’s stock worth $49,675,000 after purchasing an additional 13,926 shares during the period. Ancora Advisors LLC lifted its holdings in shares of Forward Air by 8.5% during the third quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock worth $37,820,000 after purchasing an additional 116,012 shares during the period. Private Management Group Inc. grew its stake in shares of Forward Air by 8.7% in 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 last quarter. Finally, State Street Corp increased its holdings in Forward Air by 2.1% in the fourth quarter. State Street Corp now owns 949,784 shares of the transportation company’s stock valued at $23,745,000 after purchasing an additional 19,854 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.