Key Points
- Cetus Capital Vi, L.P. sold 10,000 Forward Air shares on Nov. 12 at $22.38 for $223,800, reducing its stake by 0.32% to 3,116,546 shares, as disclosed in an SEC filing.
- The Nov. sale is part of larger insider activity by Cetus — multiple blocks totaling roughly 302,000 shares (plus an October sale) generating about $6M in proceeds — a pattern of heavy selling that could pressure sentiment.
- Forward Air has a market cap of ~$851M, a negative PE (-7.08) and a 52-week range of $9.78–$32.47; analysts are mixed with an average rating of "Hold" and a consensus price target of $35.
Forward Air Corporation (NASDAQ:FWRD - Get Free Report) major shareholder Cetus Capital Vi, L.P. sold 10,000 shares of the firm's stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $22.38, for a total value of $223,800.00. Following the transaction, the insider owned 3,116,546 shares of the company's stock, valued at $69,748,299.48. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Forward Air Stock Performance
Shares of FWRD stock opened at $27.24 on Wednesday. The stock has a market capitalization of $851.25 million, a PE ratio of -7.08 and a beta of 1.35. The business's 50 day simple moving average is $27.03 and its 200 day simple moving average is $25.71. The company has a debt-to-equity ratio of 8.73, a current ratio of 1.20 and a quick ratio of 1.20. Forward Air Corporation has a one year low of $9.78 and a one year high of $32.47.
Institutional Investors Weigh In On Forward Air
A number of hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position 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 grew its position 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 valued at $64,000 after purchasing an additional 1,753 shares during the period. Kestra Advisory Services LLC bought a new stake in Forward Air during the 4th quarter valued at $74,000. AlphaQuest LLC raised its holdings in Forward Air by 541.5% during 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 last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Forward Air in the second quarter valued at $107,000. Institutional investors and hedge funds own 97.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on FWRD shares. Weiss Ratings restated a "sell (e+)" rating on shares of Forward Air in a report on Thursday, January 22nd. Zacks Research downgraded Forward Air from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 13th. Jefferies Financial Group restated a "buy" rating on shares of Forward Air in a research report on Thursday, November 6th. Stifel Nicolaus lifted their target price on Forward Air from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Finally, Susquehanna boosted their price target on Forward Air from $42.00 to $45.00 and gave the company a "positive" rating in a research note on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $35.00.
View Our Latest Stock Analysis on Forward Air
Key Stories 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
Forward Air Company Profile
(
Get Free Report)
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.
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