California Public Employees Retirement System increased its stake in Saia Inc. (NASDAQ:SAIA) by 15.0% during the second quarter, Holdings Channel reports. The fund owned 79,050 shares of the company’s stock after buying an additional 10,300 shares during the period. California Public Employees Retirement System owned approximately 0.32% of Saia worth $1,987,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of SAIA. BlackRock Fund Advisors raised its stake in shares of Saia by 0.7% in the first quarter. BlackRock Fund Advisors now owns 1,579,070 shares of the company’s stock worth $44,451,000 after buying an additional 11,116 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of Saia by 2.4% in the second quarter. Frontier Capital Management Co. LLC now owns 872,682 shares of the company’s stock worth $21,939,000 after buying an additional 20,262 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Saia by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 624,377 shares of the company’s stock worth $17,576,000 after buying an additional 6,499 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Saia by 0.4% in the first quarter. UBS Asset Management Americas Inc. now owns 145,576 shares of the company’s stock worth $4,098,000 after buying an additional 539 shares in the last quarter. Finally, Rothschild Asset Management Inc. acquired a new stake in shares of Saia during the second quarter worth $3,112,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
Saia Inc. (NASDAQ:SAIA) traded down 0.33% during midday trading on Thursday, hitting $29.76. The company had a trading volume of 59,987 shares. The company has a market capitalization of $745.10 million, a P/E ratio of 16.18 and a beta of 0.96. The stock has a 50 day moving average price of $30.11 and a 200 day moving average price of $27.75. Saia Inc. has a 52 week low of $18.28 and a 52 week high of $33.96.
Saia (NASDAQ:SAIA) last issued its quarterly earnings data 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. Saia had a net margin of 3.90% and a return on equity of 10.61%. The company had revenue of $312 million for the quarter, compared to analysts’ expectations of $309.75 million. During the same quarter last year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts forecast that Saia Inc. will post $1.85 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Saia from a “hold” rating to a “sell” rating in a research report on Wednesday. Stifel Nicolaus lowered Saia from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Cowen and Company lifted their price objective on Saia from $28.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st. Finally, TheStreet upgraded Saia from a “hold” rating to a “buy” rating in a research report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Saia presently has a consensus 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 company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 16,602 shares in the company, valued at $473,987.10. The sale was disclosed in a document filed with the SEC, which is available at 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).
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