Stoneridge Investment Partners LLC lowered its position in shares of Saia Inc. (NASDAQ:SAIA) by 15.2% during the second quarter, Holdings Channel reports. The firm owned 46,800 shares of the company’s stock after selling 8,387 shares during the period. Stoneridge Investment Partners LLC owned about 0.19% of Saia worth $1,177,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in shares of Saia during the second quarter worth about $137,000. Legal & General Group Plc raised its position in Saia by 13.2% in the first quarter. Legal & General Group Plc now owns 5,706 shares of the company’s stock worth $160,000 after buying an additional 666 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Saia during the first quarter worth $185,000. Acrospire Investment Management LLC acquired a new position in Saia during the first quarter worth $233,000. Finally, BNP Paribas Arbitrage SA raised its position in Saia by 99.3% in the second quarter. BNP Paribas Arbitrage SA now owns 8,349 shares of the company’s stock worth $210,000 after buying an additional 4,159 shares during the period. 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 had a trading volume of 211,055 shares. The stock’s 50-day moving average price is $30.16 and its 200 day moving average price is $27.60. Saia Inc. has a 1-year low of $18.28 and a 1-year high of $33.96. The company has a market capitalization of $755.62 million, a PE ratio of 16.41 and a beta of 1.04.
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 Thomson Reuters’ consensus estimate of $0.55 by $0.03. The business had revenue of $312 million for the quarter, compared to analyst estimates of $309.75 million. Saia had a return on equity of 10.61% and a net margin of 3.90%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.75 earnings per share. Equities analysts expect that Saia Inc. will post $1.85 EPS for the current year.
A number of research firms recently weighed in on SAIA. Zacks Investment Research raised shares of Saia from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Stifel Nicolaus lowered shares of Saia from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. They noted that the move was a valuation call. TheStreet raised shares of Saia from a “hold” rating to a “buy” rating in a report on Friday, August 26th. Finally, Cowen and Company raised their target price on shares of Saia from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $29.40.
In other news, VP Mark H. Robinson sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $28.55, for a total transaction of $71,375.00. Following the completion of the transaction, the vice president now directly owns 16,602 shares of the company’s stock, valued at approximately $473,987.10. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.
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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