Forward Air (NASDAQ:FWRD) Major Shareholder Sells $1,638,750.00 in Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 75,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $21.85, for a total transaction of $1,638,750.00. Following the completion of the sale, the insider directly owned 3,313,709 shares in the company, valued at approximately $72,404,541.65. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Forward Air Stock Up 1.6%

Shares of Forward Air stock traded up $0.43 during trading on Tuesday, hitting $27.24. 480,896 shares of the stock were exchanged, compared to its average volume of 561,223. 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 firm’s 50-day moving average price is $27.03 and its 200 day moving average price is $25.71. The stock has a market cap of $851.25 million, a price-to-earnings ratio of -7.08 and a beta of 1.35. Forward Air Corporation has a 12-month low of $9.78 and a 12-month high of $32.47.

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 Trading of Forward Air

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of Forward Air by 1,179.7% during the first quarter. Royal Bank of Canada now owns 321,092 shares of the transportation company’s stock worth $6,451,000 after purchasing an additional 296,001 shares during the last quarter. AQR Capital Management LLC raised its holdings in Forward Air by 7.0% during the first quarter. AQR Capital Management LLC now owns 10,009 shares of the transportation company’s stock worth $201,000 after purchasing an additional 654 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Forward Air by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,875 shares of the transportation company’s stock valued at $299,000 after purchasing an additional 624 shares during the period. Intech Investment Management LLC boosted its holdings in Forward Air by 64.2% in the 1st quarter. Intech Investment Management LLC now owns 73,040 shares of the transportation company’s stock valued at $1,467,000 after purchasing an additional 28,564 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in Forward Air by 32.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,700 shares of the transportation company’s stock valued at $238,000 after purchasing an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a research report on Thursday, January 22nd. Jefferies Financial Group reissued a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Zacks Research downgraded shares of Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Susquehanna increased their target price 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, Stifel Nicolaus lifted their price target on shares of Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.