State Board of Administration of Florida Retirement System lowered its stake in Saia Inc. (NASDAQ:SAIA) by 16.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 20,866 shares of the company’s stock after selling 4,180 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Saia worth $525,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of SAIA. Bank of Montreal Can purchased a new position in shares of Saia during the second quarter valued at about $137,000. Legal & General Group Plc boosted its position in shares of Saia by 13.2% in the first quarter. Legal & General Group Plc now owns 5,706 shares of the company’s stock valued at $160,000 after buying an additional 666 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Saia during the first quarter valued at about $185,000. Acrospire Investment Management LLC purchased a new position in shares of Saia during the first quarter valued at about $233,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Saia by 99.3% in the second quarter. BNP Paribas Arbitrage SA now owns 8,349 shares of the company’s stock valued at $210,000 after buying an additional 4,159 shares in the last quarter. 97.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Saia Inc. (NASDAQ:SAIA) traded down 0.03% during midday trading on Thursday, hitting $29.85. The stock had a trading volume of 55,004 shares. Saia Inc. has a 12-month low of $18.28 and a 12-month high of $33.96. The company’s 50-day moving average price is $30.11 and its 200-day moving average price is $27.75. The firm has a market cap of $747.35 million, a price-to-earnings ratio of 16.23 and a beta of 0.96.
Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $312 million for the quarter, compared to the consensus estimate of $309.75 million. Saia had a net margin of 3.90% and a return on equity of 10.61%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 earnings per share. Equities research analysts forecast that Saia Inc. will post $1.85 EPS for the current year.
SAIA has been the subject of a number of analyst reports. Zacks Investment Research cut Saia from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus cut Saia from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Cowen and Company boosted their price target on Saia from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Finally, TheStreet raised Saia from a “hold” rating to a “buy” rating in a report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $29.40.
In other Saia news, VP Mark H. Robinson sold 2,500 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $28.55, for a total transaction of $71,375.00. Following the completion of the transaction, the vice president now directly owns 16,602 shares of the company’s stock, valued at approximately $473,987.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.
Saia Company Profile
Saia, Inc is a transportation company. The Company provides a range of less-than-truckload (LTL), non-asset truckload, expedited and logistics services across the United States. The Company conducts its operations through its subsidiaries, such as Saia Motor Freight Line, LLC (Saia LTL Freight), Saia TL Plus, LLC (Saia TL Plus), Saia Sales, LLC (Saia Sales), Saia Logistics Services, LLC (Saia Logistics Services), MetroGo, Inc (MetroGo) and LinkEx, Inc (LinkEx).
Want to see what other hedge funds are holding SAIA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Saia Inc. (NASDAQ:SAIA).
Receive News & Ratings for Saia Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saia Inc. and related companies with MarketBeat.com's FREE daily email newsletter.