Swiss National Bank cut its position in shares of Saia, Inc. (NASDAQ:SAIA – Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,100 shares of the transportation company’s stock after selling 6,600 shares during the quarter. Swiss National Bank owned 0.22% of Saia worth $15,536,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership acquired a new position in Saia in the 4th quarter worth approximately $57,655,000. Goldman Sachs Group Inc. boosted its position in shares of Saia by 49.6% in the first quarter. Goldman Sachs Group Inc. now owns 712,195 shares of the transportation company’s stock worth $173,648,000 after buying an additional 236,105 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Saia by 149.0% during the fourth quarter. Victory Capital Management Inc. now owns 365,633 shares of the transportation company’s stock valued at $76,666,000 after buying an additional 218,782 shares in the last quarter. Voya Investment Management LLC raised its position in Saia by 528.4% during the fourth quarter. Voya Investment Management LLC now owns 219,317 shares of the transportation company’s stock valued at $45,986,000 after buying an additional 184,418 shares during the period. Finally, Millennium Management LLC lifted its stake in Saia by 7,365.2% in the 4th quarter. Millennium Management LLC now owns 184,240 shares of the transportation company’s stock worth $38,631,000 after acquiring an additional 181,772 shares in the last quarter.
Insider Buying and Selling
In other Saia news, VP Raymond R. Ramu sold 2,040 shares of Saia stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $421.75, for a total transaction of $860,370.00. Following the sale, the vice president now directly owns 3,623 shares of the company’s stock, valued at $1,528,000.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Saia news, VP Raymond R. Ramu sold 2,040 shares of Saia stock in a transaction on Monday, August 7th. The stock was sold at an average price of $421.75, for a total transaction of $860,370.00. Following the completion of the transaction, the vice president now directly owns 3,623 shares of the company’s stock, valued at $1,528,000.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Douglas L. Col sold 1,090 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $428.84, for a total transaction of $467,435.60. Following the completion of the sale, the chief financial officer now directly owns 6,009 shares in the company, valued at approximately $2,576,899.56. The disclosure for this sale can be found here. Insiders sold 12,897 shares of company stock valued at $5,488,713 over the last quarter. Corporate insiders own 0.50% of the company’s stock.
Saia Stock Performance
Saia (NASDAQ:SAIA – Get Free Report) last announced its quarterly earnings results on Friday, July 28th. The transportation company reported $3.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.17. The firm had revenue of $694.62 million for the quarter, compared to analyst estimates of $700.31 million. Saia had a net margin of 12.27% and a return on equity of 20.74%. Sell-side analysts forecast that Saia, Inc. will post 12.52 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on SAIA shares. Jefferies Financial Group assumed coverage on shares of Saia in a research report on Monday, June 12th. They issued a “buy” rating and a $350.00 price target for the company. Bank of America lifted their target price on shares of Saia from $490.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Raymond James upped their price target on shares of Saia from $355.00 to $447.00 and gave the stock an “outperform” rating in a research note on Monday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Saia from $349.00 to $363.00 in a research report on Monday, May 1st. Finally, Credit Suisse Group upped their target price on Saia from $292.00 to $317.00 in a research report on Monday, May 1st. Two equities research 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $375.25.
Read Our Latest Report on SAIA
About Saia
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.
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