Forward Air (NASDAQ:FWRD) Major Shareholder Sells $2,619,600.00 in Stock

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 stock was sold at an average price of $21.83, for a total value of $2,619,600.00. Following the transaction, the insider owned 3,193,709 shares of the company’s stock, valued at $69,718,667.47. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Price Performance

NASDAQ:FWRD traded up $0.43 during trading hours on Tuesday, reaching $27.24. The company had a trading volume of 480,896 shares, compared to its average volume of 561,223. 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 of $27.03 and a two-hundred day moving average of $25.71. Forward Air Corporation has a one year low of $9.78 and a one year high of $32.47. The firm has a market capitalization of $851.25 million, a PE ratio of -7.08 and a beta of 1.35.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FWRD. Vanguard Group Inc. boosted its stake in shares of Forward Air by 15.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,353,608 shares of the transportation company’s stock valued at $60,347,000 after purchasing an additional 307,906 shares during the last quarter. Ridgemont Partners Management LLC raised its stake 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 buying an additional 13,926 shares during the last quarter. Ancora Advisors LLC lifted its holdings in Forward Air by 8.5% in the third quarter. Ancora Advisors LLC now owns 1,475,055 shares of the transportation company’s stock valued at $37,820,000 after buying an additional 116,012 shares during the period. Private Management Group Inc. boosted its stake in 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 valued at $25,674,000 after acquiring an additional 83,600 shares during the last quarter. Finally, State Street Corp boosted its stake 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 acquiring an additional 19,854 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Susquehanna lifted their target price 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 restated a “buy” rating on shares of Forward Air in a research report on Thursday, November 6th. Stifel Nicolaus raised their price target on Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Three 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. According to MarketBeat.com, the stock 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.