Maryland State Retirement & Pension System Purchases New Holdings in Saia, Inc. (NASDAQ:SAIA)

Posted by Defense World Staff on Sep 26th, 2023

Maryland State Retirement & Pension System acquired a new position in shares of Saia, Inc. (NASDAQ:SAIA – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,099 shares of the transportation company’s stock, valued at approximately $719,000.

Several other large investors also recently added to or reduced their stakes in SAIA. Level Four Advisory Services LLC purchased a new position in shares of Saia during the first quarter valued at $557,000. Ameriprise Financial Inc. grew its stake in Saia by 127.5% during the 1st quarter. Ameriprise Financial Inc. now owns 131,833 shares of the transportation company’s stock valued at $35,869,000 after acquiring an additional 73,893 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Saia by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 414,801 shares of the transportation company’s stock valued at $112,859,000 after purchasing an additional 21,968 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Saia by 36.9% in the first quarter. Thrivent Financial for Lutherans now owns 87,208 shares of the transportation company’s stock worth $23,728,000 after purchasing an additional 23,511 shares in the last quarter. Finally, KB Financial Partners LLC acquired a new stake in shares of Saia during the first quarter worth approximately $28,000.

Insider Transactions at Saia

In other news, VP Raymond R. Ramu sold 2,040 shares of Saia stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $421.75, for a total value of $860,370.00. Following the transaction, the vice president now directly owns 3,623 shares in the company, valued at $1,528,000.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Patrick D. Sugar sold 2,771 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $426.59, for a total transaction of $1,182,080.89. Following the transaction, the executive vice president now directly owns 7,277 shares in the company, valued at $3,104,295.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Raymond R. Ramu sold 2,040 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $421.75, for a total value of $860,370.00. Following the transaction, the vice president now owns 3,623 shares in the company, valued at $1,528,000.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,897 shares of company stock worth $5,488,713. Company insiders own 0.50% of the company’s stock.

Saia Stock Performance

NASDAQ:SAIA opened at $396.42 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01. Saia, Inc. has a 1 year low of $180.17 and a 1 year high of $443.85. The firm’s fifty day simple moving average is $415.03 and its 200 day simple moving average is $336.47. The firm has a market capitalization of $10.52 billion, a PE ratio of 31.49, a PEG ratio of 2.93 and a beta of 1.57.

Saia (NASDAQ:SAIA – Get Free Report) last posted its quarterly earnings data on Friday, July 28th. The transportation company reported $3.42 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.17. The business had revenue of $694.62 million for the quarter, compared to analyst estimates of $700.31 million. Saia had a return on equity of 20.74% and a net margin of 12.27%. On average, sell-side analysts anticipate that Saia, Inc. will post 12.76 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Raymond James upped their price objective on shares of Saia from $355.00 to $447.00 and gave the company an “outperform” rating in a research note on Monday, July 31st. SpectralCast reiterated an “upgrade” rating on shares of Saia in a report on Tuesday, June 27th. Wells Fargo & Company boosted their target price on Saia from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Jefferies Financial Group initiated coverage on Saia in a research note on Monday, June 12th. They set a “buy” rating and a $350.00 price target for the company. Finally, Morgan Stanley boosted their price target on Saia from $237.00 to $250.00 and gave the company an “underweight” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $375.25.

Get Our Latest Research Report on Saia

Saia Profile

(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.