Stoneridge Investment Partners LLC decreased its stake in Saia Inc. (NASDAQ:SAIA) by 15.2% during the second quarter, Holdings Channel reports. The fund owned 46,800 shares of the company’s stock after selling 8,387 shares during the period. Stoneridge Investment Partners LLC’s holdings in Saia were worth $1,177,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in SAIA. Apex Capital Management increased its position in shares of Saia by 21.7% in the first quarter. Apex Capital Management now owns 341,318 shares of the company’s stock valued at $9,608,000 after buying an additional 60,890 shares during the last quarter. Aperio Group LLC acquired a new position in shares of Saia during the first quarter valued at $403,000. Prudential Financial Inc. increased its position in shares of Saia by 18.4% in the first quarter. Prudential Financial Inc. now owns 69,016 shares of the company’s stock valued at $1,943,000 after buying an additional 10,708 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Saia by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,579,070 shares of the company’s stock valued at $44,451,000 after buying an additional 11,116 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Saia by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 624,377 shares of the company’s stock valued at $17,576,000 after buying an additional 6,499 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.
Shares of Saia Inc. (NASDAQ:SAIA) traded down 1.73% during mid-day trading on Friday, reaching $30.18. The company’s stock had a trading volume of 211,055 shares. Saia Inc. has a 1-year low of $18.28 and a 1-year high of $33.96. The firm has a market capitalization of $755.62 million, a P/E ratio of 16.41 and a beta of 1.04. The company’s 50-day moving average is $30.16 and its 200 day moving average is $27.60.
Saia (NASDAQ:SAIA) last announced its earnings results on Friday, July 29th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by $0.03. Saia had a net margin of 3.90% and a return on equity of 10.61%. The company earned $312 million during the quarter, compared to analysts’ expectations of $309.75 million. During the same quarter last year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, analysts expect that Saia Inc. will post $1.85 earnings per share for the current year.
SAIA has been the subject of several research analyst reports. Stifel Nicolaus reduced their target price on Saia from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, June 1st. Zacks Investment Research cut Saia from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 5th. Cowen and Company boosted their price target on Saia from $28.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st. Finally, TheStreet upgraded Saia from a “hold” rating to a “buy” rating in a research report on Friday, August 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.40.
In other Saia news, VP Mark H. Robinson sold 2,500 shares of Saia stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $28.55, for a total value of $71,375.00. Following the transaction, the vice president now directly owns 16,602 shares in the company, valued at approximately $473,987.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.
Saia Company Profile
Saia, Inc is a transportation company. The Company provides a range of less-than-truckload (LTL), non-asset truckload, expedited and logistics services across the United States. The Company conducts its operations through its subsidiaries, such as Saia Motor Freight Line, LLC (Saia LTL Freight), Saia TL Plus, LLC (Saia TL Plus), Saia Sales, LLC (Saia Sales), Saia Logistics Services, LLC (Saia Logistics Services), MetroGo, Inc (MetroGo) and LinkEx, Inc (LinkEx).
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