Summit Global Investments Takes Position in Saia, Inc. (SAIA)
Summit Global Investments bought a new position in Saia, Inc. (NASDAQ:SAIA) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,700 shares of the transportation company’s stock, valued at approximately $498,000.
A number of other large investors also recently bought and sold shares of the business. Riverhead Capital Management LLC grew its position in Saia by 68.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,531 shares of the transportation company’s stock worth $130,000 after purchasing an additional 1,031 shares during the period. Timpani Capital Management LLC bought a new stake in Saia in the 2nd quarter worth approximately $1,105,000. Wells Fargo & Company MN grew its position in Saia by 27.8% in the 2nd quarter. Wells Fargo & Company MN now owns 29,860 shares of the transportation company’s stock worth $1,531,000 after purchasing an additional 6,491 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Saia in the 2nd quarter worth approximately $205,000. Finally, Swiss National Bank grew its position in Saia by 4.3% in the 2nd quarter. Swiss National Bank now owns 43,200 shares of the transportation company’s stock worth $2,216,000 after purchasing an additional 1,800 shares during the period. 96.99% of the stock is owned by institutional investors and hedge funds.
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A number of equities research analysts have commented on the stock. Cowen and Company reaffirmed a “hold” rating and issued a $55.00 target price on shares of Saia in a research report on Friday, September 8th. ValuEngine raised shares of Saia from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded shares of Saia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $48.00 target price (up previously from $44.00) on shares of Saia in a research report on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of Saia from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Saia has a consensus rating of “Buy” and a consensus target price of $52.33.
Saia, Inc. (NASDAQ:SAIA) opened at 57.10 on Thursday. The stock’s 50 day moving average is $54.34 and its 200 day moving average is $48.90. Saia, Inc. has a 52 week low of $27.96 and a 52 week high of $59.25. The stock has a market cap of $1.44 billion, a PE ratio of 27.70 and a beta of 0.80.
Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, July 28th. The transportation company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.06. Saia had a net margin of 4.12% and a return on equity of 10.84%. The business had revenue of $358.20 million for the quarter, compared to analyst estimates of $348.53 million. During the same quarter in the prior year, the business posted $0.52 EPS. Saia’s revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts predict that Saia, Inc. will post $2.19 EPS for the current year.
In other news, Director Herbert A. Trucksess III sold 15,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $54.33, for a total value of $814,950.00. Following the sale, the director now owns 183,442 shares in the company, valued at $9,966,403.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herbert A. Trucksess III sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $56.54, for a total transaction of $565,400.00. Following the completion of the sale, the director now owns 158,442 shares in the company, valued at approximately $8,958,310.68. The disclosure for this sale can be found here. Insiders have sold a total of 74,576 shares of company stock worth $4,053,452 in the last 90 days. 1.50% of the stock is currently owned by company insiders.
Saia Company Profile
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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