Wedge Capital Management L L P NC decreased its stake in Saia, Inc. (NASDAQ:SAIA) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 308,633 shares of the transportation company’s stock after selling 41,871 shares during the quarter. Wedge Capital Management L L P NC owned approximately 1.22% of Saia worth $19,336,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Texas Permanent School Fund grew its position in shares of Saia by 0.9% during the second quarter. Texas Permanent School Fund now owns 18,579 shares of the transportation company’s stock worth $953,000 after purchasing an additional 160 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in shares of Saia by 0.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 68,236 shares of the transportation company’s stock valued at $3,501,000 after purchasing an additional 347 shares during the last quarter. Mckinley Capital Management LLC Delaware lifted its stake in shares of Saia by 1.0% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 40,800 shares of the transportation company’s stock valued at $2,093,000 after purchasing an additional 409 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of Saia by 1.2% in the 1st quarter. Prudential Financial Inc. now owns 43,908 shares of the transportation company’s stock valued at $1,945,000 after purchasing an additional 510 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Saia by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,906 shares of the transportation company’s stock valued at $1,021,000 after purchasing an additional 661 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.
Several research firms have recently issued reports on SAIA. Cowen and Company reaffirmed a “hold” rating and issued a $55.00 price objective on shares of Saia in a research note on Thursday, October 12th. BidaskClub downgraded Saia from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. ValuEngine downgraded Saia from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Morgan Stanley lifted their price target on Saia from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $53.00 price target on shares of Saia in a research report on Thursday, September 21st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Saia has a consensus rating of “Hold” and an average price target of $50.33.
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Shares of Saia, Inc. (NASDAQ SAIA) traded up $1.40 during trading on Wednesday, hitting $62.55. The company had a trading volume of 228,400 shares, compared to its average volume of 180,704. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.21. Saia, Inc. has a 1 year low of $40.65 and a 1 year high of $67.35. The stock has a market cap of $1,558.74, a price-to-earnings ratio of 29.54 and a beta of 0.93.
Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, October 27th. The transportation company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.01). Saia had a net margin of 4.05% and a return on equity of 10.61%. The business had revenue of $350.06 million during the quarter, compared to analysts’ expectations of $344.46 million. During the same quarter in the prior year, the firm earned $0.54 EPS. Saia’s revenue for the quarter was up 10.6% on a year-over-year basis. sell-side analysts anticipate that Saia, Inc. will post 2.16 earnings per share for the current fiscal year.
In other news, CEO Richard D. Odell sold 40,700 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $64.54, for a total value of $2,626,778.00. Following the completion of the sale, the chief executive officer now directly owns 48,634 shares in the company, valued at $3,138,838.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Holland sold 1,618 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $56.21, for a total value of $90,947.78. Following the completion of the sale, the director now owns 1,028 shares of the company’s stock, valued at $57,783.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,023 shares of company stock valued at $4,108,329. 1.50% of the stock is owned by company insiders.
Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.
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