Verition Fund Management LLC Invests $1.31 Million in Saia, Inc. (NASDAQ:SAIA)

Verition Fund Management LLC purchased a new position in shares of Saia, Inc. (NASDAQ:SAIAGet Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,356 shares of the transportation company’s stock, valued at approximately $1,306,000.

Several other large investors also recently added to or reduced their stakes in SAIA. Cresset Asset Management LLC lifted its stake in Saia by 6.0% during the 1st quarter. Cresset Asset Management LLC now owns 907 shares of the transportation company’s stock worth $221,000 after acquiring an additional 51 shares in the last quarter. Mackenzie Financial Corp raised its position in Saia by 4.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,510 shares of the transportation company’s stock valued at $368,000 after purchasing an additional 60 shares in the last quarter. Moors & Cabot Inc. raised its position in Saia by 8.0% in the 1st quarter. Moors & Cabot Inc. now owns 1,015 shares of the transportation company’s stock valued at $247,000 after purchasing an additional 75 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in Saia by 87.4% in the 1st quarter. TCI Wealth Advisors Inc. now owns 163 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 76 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in Saia by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 14,278 shares of the transportation company’s stock valued at $3,481,000 after purchasing an additional 89 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus reduced their price target on Saia from $238.00 to $229.00 in a research report on Thursday, July 28th. Citigroup set a $212.00 price target on Saia in a report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price target on Saia from $300.00 to $268.00 and set a “buy” rating for the company in a report on Friday, September 9th. Wells Fargo & Company raised their price target on Saia from $238.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Finally, Credit Suisse Group raised their price target on Saia from $234.00 to $253.00 and gave the company an “outperform” rating in a report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $267.71.

Saia Price Performance

Shares of NASDAQ:SAIA opened at $186.48 on Wednesday. Saia, Inc. has a one year low of $168.03 and a one year high of $365.50. The stock has a fifty day moving average of $217.24 and a 200-day moving average of $215.76. The company has a market capitalization of $4.93 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 0.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.58 and a current ratio of 1.58.

Saia (NASDAQ:SAIAGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The transportation company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.62. The business had revenue of $745.55 million for the quarter, compared to the consensus estimate of $731.26 million. Saia had a net margin of 12.96% and a return on equity of 26.79%. Saia’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 earnings per share. As a group, equities analysts anticipate that Saia, Inc. will post 13.81 EPS for the current fiscal year.

Insider Activity

In other Saia news, VP Raymond R. Ramu sold 13,474 shares of Saia stock in a transaction on Friday, August 12th. The shares were sold at an average price of $247.58, for a total transaction of $3,335,892.92. Following the completion of the sale, the vice president now owns 3,279 shares of the company’s stock, valued at approximately $811,814.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Saia news, Director Richard D. Odell sold 10,717 shares of the stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $235.92, for a total transaction of $2,528,354.64. Following the transaction, the director now owns 13,356 shares in the company, valued at approximately $3,150,947.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Raymond R. Ramu sold 13,474 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $247.58, for a total transaction of $3,335,892.92. Following the transaction, the vice president now owns 3,279 shares in the company, valued at approximately $811,814.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,301 shares of company stock worth $9,727,819. Insiders own 0.50% of the company’s stock.

About Saia

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Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 400 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2021, it operated 176 owned and leased facilities; and owned approximately 5,600 tractors and 19,300 trailers.

Further Reading

Institutional Ownership by Quarter for Saia (NASDAQ:SAIA)

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