Cortina Asset Management LLC cut its holdings in shares of Saia Inc (NASDAQ:SAIA) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,796 shares of the transportation company’s stock after selling 4,175 shares during the quarter. Cortina Asset Management LLC’s holdings in Saia were worth $8,193,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Saia by 72.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,634 shares of the transportation company’s stock worth $116,000 after buying an additional 685 shares in the last quarter. Bessemer Group Inc. lifted its position in Saia by 75.0% during the 4th quarter. Bessemer Group Inc. now owns 2,100 shares of the transportation company’s stock worth $149,000 after buying an additional 900 shares in the last quarter. SG Americas Securities LLC bought a new stake in Saia during the 3rd quarter worth about $179,000. Advisor Partners LLC bought a new stake in Saia during the 4th quarter worth about $210,000. Finally, Amalgamated Bank bought a new stake in Saia during the 3rd quarter worth about $215,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Saia from $35.00 to $50.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 21st. Cowen boosted their price target on shares of Saia from $61.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Stephens reissued a “neutral” rating on shares of Saia in a research report on Friday, February 2nd. BidaskClub raised shares of Saia from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 13th. Finally, Zacks Investment Research raised shares of Saia from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $67.75.
Saia (NASDAQ:SAIA) last issued its earnings results on Friday, February 2nd. The transportation company reported $0.53 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.53. The company had revenue of $353.20 million for the quarter, compared to analysts’ expectations of $343.26 million. Saia had a net margin of 6.61% and a return on equity of 10.80%. Saia’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 EPS. analysts predict that Saia Inc will post 3.67 earnings per share for the current year.
In other news, insider Stephanie Maschmeier sold 8,177 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $73.96, for a total value of $604,770.92. Following the sale, the insider now directly owns 3,678 shares of the company’s stock, valued at approximately $272,024.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard D. Odell sold 53,171 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $74.02, for a total transaction of $3,935,717.42. Following the completion of the sale, the chief executive officer now directly owns 12,972 shares in the company, valued at $960,187.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,109 shares of company stock worth $6,365,332. 1.50% of the stock is owned by insiders.
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Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.
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