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 business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $21.85, for a total value of $1,638,750.00. Following the completion of the transaction, the insider owned 3,313,709 shares of the company’s stock, valued at $72,404,541.65. This represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Forward Air Stock Performance

Shares of FWRD stock opened at $27.78 on Friday. The company has a debt-to-equity ratio of 8.73, a quick ratio of 1.20 and a current ratio of 1.20. Forward Air Corporation has a 52 week low of $9.78 and a 52 week high of $32.47. The company’s 50 day moving average price is $27.10 and its two-hundred day moving average price is $25.73. The company has a market capitalization of $868.13 million, a P/E ratio of -7.22 and a beta of 1.35.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FWRD shares. Zacks Research cut Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Forward Air in a research note on Thursday, January 22nd. Stifel Nicolaus upped their price target on Forward Air from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Finally, Susquehanna boosted their price objective on shares of Forward Air from $42.00 to $45.00 and gave the stock a “positive” rating in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Forward Air has an average rating of “Hold” and an average target price of $35.00.

Hedge Funds Weigh In On Forward Air

Several hedge funds and other institutional investors have recently made changes to their positions in FWRD. Garton & Associates Financial Advisors LLC acquired a new position in Forward Air during the fourth quarter worth $36,000. Nisa Investment Advisors LLC increased its stake in shares of Forward Air by 26.9% during the 2nd 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 last quarter. Tower Research Capital LLC TRC raised its holdings in shares of 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 acquired a new stake in Forward Air in the 4th quarter valued at about $74,000. Finally, AlphaQuest LLC grew 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 purchasing an additional 2,545 shares during the period. 97.03% of the stock is owned by institutional investors.

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.