State of Michigan Retirement System Sells 100 Shares of Saia, Inc. (NASDAQ:SAIA)

Posted by Defense World Staff on Jul 23rd, 2023

State of Michigan Retirement System trimmed its position in Saia, Inc. (NASDAQ:SAIA – Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,686 shares of the transportation company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Saia were worth $1,819,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. OLD Mission Capital LLC bought a new stake in shares of Saia in the fourth quarter valued at about $27,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Saia by 642.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 156 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 135 shares in the last quarter. Eagle Bay Advisors LLC bought a new stake in Saia during the first quarter worth about $46,000. Belpointe Asset Management LLC bought a new stake in Saia during the fourth quarter worth about $63,000. Finally, Assetmark Inc. bought a new stake in Saia during the fourth quarter worth about $63,000.

Saia Trading Down 1.8 %

Shares of SAIA stock opened at $402.72 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.68 billion, a P/E ratio of 30.35, a price-to-earnings-growth ratio of 5.44 and a beta of 1.53. The stock has a 50 day simple moving average of $320.06 and a 200 day simple moving average of $287.52. Saia, Inc. has a 1 year low of $176.70 and a 1 year high of $411.65.

Saia (NASDAQ:SAIA – Get Free Report) last issued its quarterly earnings results on Friday, April 28th. The transportation company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.17. The business had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $667.28 million. Saia had a return on equity of 23.07% and a net margin of 12.69%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.98 earnings per share. On average, research analysts predict that Saia, Inc. will post 12.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Saia news, Director Donna E. Epps sold 240 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $280.85, for a total transaction of $67,404.00. Following the completion of the sale, the director now directly owns 1,983 shares in the company, valued at $556,925.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Saia news, Director Donna E. Epps sold 240 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $280.85, for a total transaction of $67,404.00. Following the completion of the sale, the director now directly owns 1,983 shares in the company, valued at $556,925.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard D. Odell sold 2,500 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $293.90, for a total value of $734,750.00. Following the sale, the director now owns 5,989 shares of the company’s stock, valued at $1,760,167.10. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup upped their target price on Saia from $294.00 to $367.00 and gave the stock a “neutral” rating in a report on Thursday, June 29th. StockNews.com assumed coverage on Saia in a report on Thursday, May 18th. They set a “sell” rating on the stock. Morgan Stanley upped their target price on Saia from $235.00 to $237.00 in a report on Thursday, July 6th. Stifel Nicolaus upped their target price on Saia from $251.00 to $284.00 in a report on Monday, May 1st. Finally, Barclays started coverage on Saia in a research report on Monday, July 17th. They set an “overweight” rating and a $420.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Saia has an average rating of “Hold” and an average price target of $324.65.

About Saia

(Free Report)

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2022, it operated 191 owned and leased facilities; and owned approximately 6,200 tractors and 20,800 trailers.