Insider Selling: Forward Air (NASDAQ:FWRD) Major Shareholder Sells $642,600.00 in Stock

Forward Air Corporation (NASDAQ:FWRD) major shareholder Cetus Capital Vi, L.P. sold 30,000 shares of the stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $21.42, for a total transaction of $642,600.00. Following the completion of the transaction, the insider directly owned 3,063,709 shares in the company, valued at $65,624,646.78. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Forward Air Stock 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 company has a market capitalization of $868.13 million, a price-to-earnings ratio of -7.22 and a beta of 1.35. The company has a 50-day simple moving average of $27.10 and a 200 day simple moving average of $25.73. The company has a debt-to-equity ratio of 8.73, a quick ratio of 1.20 and a current ratio of 1.20.

Institutional Investors Weigh In On Forward Air

A number of large investors have recently bought and sold shares of the company. Garton & Associates Financial Advisors LLC acquired a new position in shares of Forward Air in the 4th quarter valued at approximately $36,000. Nisa Investment Advisors LLC boosted its position 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 acquiring an additional 530 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Forward Air by 207.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the transportation company’s stock valued at $64,000 after acquiring an additional 1,753 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Forward Air during the fourth quarter valued at approximately $74,000. Finally, AlphaQuest LLC raised its position in Forward Air by 541.5% during the third quarter. AlphaQuest LLC now owns 3,015 shares of the transportation company’s stock valued at $77,000 after purchasing an additional 2,545 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FWRD has been the subject of several recent research reports. 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. Stifel Nicolaus boosted their target price on shares of Forward Air from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Zacks Research lowered shares of Forward Air from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Forward Air in a report on Thursday, January 22nd. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Forward Air in a report on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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.