Saia Inc. (SAIA) Position Lowered by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA reduced its position in shares of Saia Inc. (NASDAQ:SAIA) by 51.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,014 shares of the company’s stock after selling 4,335 shares during the period. BNP Paribas Arbitrage SA’s holdings in Saia were worth $120,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Saia by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,117,060 shares of the company’s stock worth $53,223,000 after buying an additional 157,526 shares during the period. BlackRock Fund Advisors increased its position in Saia by 3.3% in the second quarter. BlackRock Fund Advisors now owns 1,631,459 shares of the company’s stock worth $41,015,000 after buying an additional 52,389 shares in the last quarter. FMR LLC increased its position in Saia by 1.6% in the second quarter. FMR LLC now owns 1,237,366 shares of the company’s stock worth $31,107,000 after buying an additional 18,900 shares in the last quarter. Vanguard Group Inc. increased its position in Saia by 0.6% in the second quarter. Vanguard Group Inc. now owns 1,114,409 shares of the company’s stock worth $28,016,000 after buying an additional 6,742 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Saia during the second quarter worth approximately $27,729,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
Shares of Saia Inc. (NASDAQ:SAIA) opened at 29.18 on Friday. The company has a 50-day moving average of $30.00 and a 200 day moving average of $27.79. The firm has a market capitalization of $730.58 million, a P/E ratio of 15.87 and a beta of 0.96. Saia Inc. has a 52 week low of $18.28 and a 52 week high of $33.96.
Saia (NASDAQ:SAIA) last posted its quarterly 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 the consensus estimate of $309.75 million. During the same period last year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts anticipate that Saia Inc. will post $1.85 earnings per share for the current year.
A number of equities analysts have recently commented on the stock. Cowen and Company increased their price objective on shares of Saia from $28.00 to $32.00 and gave the stock a “market perform” rating in a research note on Monday, August 1st. Zacks Investment Research downgraded shares of Saia from a “hold” rating to a “sell” rating in a research note on Thursday, August 4th. TheStreet upgraded shares of Saia from a “hold” rating to a “buy” rating in a research note on Friday, August 26th. Finally, Stifel Nicolaus downgraded shares of Saia from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Saia currently has an average rating of “Hold” and a consensus price target of $29.40.
In other Saia news, VP Mark H. Robinson sold 2,500 shares of Saia stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $28.55, for a total value of $71,375.00. Following the completion of the sale, the vice president now directly owns 16,602 shares of the company’s stock, valued at $473,987.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.
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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