Insider Selling: Forward Air (NASDAQ:FWRD) Major Shareholder Sells $1,458,108.73 in Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 67,163 shares of Forward Air stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $21.71, for a total value of $1,458,108.73. Following the completion of the transaction, the insider owned 3,126,546 shares of the company’s stock, valued at approximately $67,877,313.66. The trade was a 2.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large 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

Shares of FWRD stock opened at $27.78 on Friday. Forward Air Corporation has a 52 week low of $9.78 and a 52 week high of $32.47. The stock has a market capitalization of $868.13 million, a PE ratio of -7.22 and a beta of 1.35. The company has a debt-to-equity ratio of 8.73, a quick ratio of 1.20 and a current ratio of 1.20. The stock’s fifty day moving average is $27.10 and its 200-day moving average is $25.73.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Forward Air

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FWRD. Invesco Ltd. grew its position in shares of Forward Air by 20.8% during the 4th quarter. Invesco Ltd. now owns 268,960 shares of the transportation company’s stock worth $6,724,000 after buying an additional 46,240 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in Forward Air during the fourth quarter valued at approximately $36,000. SummitTX Capital L.P. bought a new stake in Forward Air in the fourth quarter valued at approximately $4,030,000. One68 Global Capital LLC bought a new stake in Forward Air in the fourth quarter valued at approximately $225,000. Finally, Inspire Investing LLC raised its holdings in Forward Air by 6.0% in the fourth quarter. Inspire Investing LLC now owns 18,636 shares of the transportation company’s stock worth $466,000 after purchasing an additional 1,055 shares during the period. Institutional investors own 97.03% of the company’s stock.

Forward Air Company Profile

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.