Wasatch Advisors LP Sells 116,318 Shares of Saia, Inc. (NASDAQ:SAIA)

Wasatch Advisors LP decreased its holdings in shares of Saia, Inc. (NASDAQ:SAIA) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,087 shares of the transportation company’s stock after selling 116,318 shares during the period. Saia accounts for about 1.3% of Wasatch Advisors LP’s holdings, making the stock its 20th largest holding. Wasatch Advisors LP’s holdings in Saia were worth $262,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in shares of Saia during the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Saia by 172.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 38 shares in the last quarter. Atala Financial Inc bought a new stake in Saia in the fourth quarter valued at $36,000. Huntington National Bank increased its position in Saia by 291.7% during the 4th quarter. Huntington National Bank now owns 94 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 70 shares during the period. Finally, Tortoise Investment Management LLC raised its holdings in Saia by 76.6% in the 4th quarter. Tortoise Investment Management LLC now owns 113 shares of the transportation company’s stock worth $51,000 after purchasing an additional 49 shares in the last quarter.

Insider Activity

In other Saia news, EVP Patrick D. Sugar sold 799 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $493.74, for a total value of $394,498.26. Following the transaction, the executive vice president now owns 8,629 shares of the company’s stock, valued at approximately $4,260,482.46. This represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $487.34, for a total value of $3,671,619.56. Following the completion of the transaction, the chief executive officer now directly owns 17,645 shares in the company, valued at $8,599,114.30. The trade was a 29.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,493 shares of company stock valued at $4,646,181 in the last 90 days. 0.30% of the stock is currently owned by insiders.

Saia Stock Performance

SAIA stock opened at $330.72 on Wednesday. The stock has a market capitalization of $8.81 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 2.24 and a beta of 1.99. The stock’s 50 day simple moving average is $389.59 and its 200 day simple moving average is $455.25. Saia, Inc. has a 12-month low of $287.50 and a 12-month high of $624.55. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a net margin of 11.28% and a return on equity of 16.63%. The business had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $794.69 million. During the same period last year, the business earned $3.33 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SAIA has been the topic of several research analyst reports. Jefferies Financial Group reduced their price target on shares of Saia from $560.00 to $455.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. TD Cowen upped their target price on Saia from $456.00 to $478.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. BMO Capital Markets upgraded Saia from a “market perform” rating to an “outperform” rating and set a $455.00 target price for the company in a research note on Monday, April 7th. Bank of America reduced their price target on Saia from $565.00 to $484.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company lowered their price objective on Saia from $510.00 to $400.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $484.39.

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. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.