Brant Point Investment Management LLC lessened its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,600 shares of the transportation company’s stock after selling 19,993 shares during the quarter. Brant Point Investment Management LLC owned about 0.27% of Saia worth $3,468,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SAIA. Riverhead Capital Management LLC boosted its position in shares of Saia by 68.7% during 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 in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Saia during the 2nd quarter worth about $205,000. State of Alaska Department of Revenue boosted its position in shares of Saia by 78.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,022 shares of the transportation company’s stock worth $257,000 after purchasing an additional 2,212 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of Saia by 8.7% during the 1st quarter. Mason Street Advisors LLC now owns 5,949 shares of the transportation company’s stock worth $264,000 after purchasing an additional 477 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Saia by 4.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,816 shares of the transportation company’s stock worth $302,000 after purchasing an additional 306 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Saia from a “buy” rating to a “hold” rating in a research report on Wednesday. Cowen and Company reissued a “hold” rating and set a $55.00 price objective 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. Stifel Nicolaus reissued a “hold” rating and set a $48.00 price objective (up previously from $44.00) on shares of Saia in a research report on Monday, July 31st. Finally, BidaskClub cut shares of Saia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $52.33.

In related news, Director Herbert A. Trucksess III sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $54.09, for a total transaction of $1,622,700.00. Following the sale, the director now owns 183,442 shares of the company’s stock, valued at $9,922,377.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey C. Ward sold 2,521 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $52.91, for a total transaction of $133,386.11. Following the sale, the director now directly owns 9,279 shares in the company, valued at approximately $490,951.89. The disclosure for this sale can be found here. Insiders have sold 74,576 shares of company stock worth $4,053,452 in the last three months. 1.50% of the stock is currently owned by insiders.

Saia, Inc. (NASDAQ SAIA) traded up 0.75% during midday trading on Thursday, hitting $60.15. 8,505 shares of the company were exchanged. The firm has a market capitalization of $1.52 billion, a PE ratio of 29.18 and a beta of 0.80. Saia, Inc. has a 1-year low of $27.96 and a 1-year high of $60.50. The stock has a 50 day moving average of $55.02 and a 200 day moving average of $49.25.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Friday, July 28th. The transportation company reported $0.68 EPS for the quarter, topping the 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 previous year, the firm posted $0.52 earnings per share. Saia’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Saia, Inc. will post $2.18 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Saia (NASDAQ:SAIA)

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