Bank of America Corp DE Sells 29,024 Shares of Saia, Inc. (NASDAQ:SAIA)

Bank of America Corp DE reduced its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 24.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 89,031 shares of the transportation company's stock after selling 29,024 shares during the period. Bank of America Corp DE owned about 0.33% of Saia worth $40,574,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Susquehanna cut their price objective on shares of Saia from $540.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Cowen restated a "hold" rating on shares of Saia in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on Saia from $436.00 to $299.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. UBS Group dropped their target price on Saia from $422.00 to $305.00 and set a "buy" rating for the company in a report on Monday, April 28th. Finally, BMO Capital Markets cut shares of Saia from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $455.00 to $285.00 in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Saia currently has a consensus rating of "Hold" and a consensus target price of $345.16.

Saia Price Performance

SAIA stock traded down $3.61 during trading on Monday, reaching $281.49. 598,745 shares of the company were exchanged, compared to its average volume of 500,157. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.24 and a beta of 2.03. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.57 and a quick ratio of 1.26. The company has a 50-day moving average of $321.05 and a two-hundred day moving average of $429.30. Saia, Inc. has a twelve month low of $229.12 and a twelve month high of $624.55.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.77 by ($0.91). Saia had a return on equity of 16.63% and a net margin of 11.28%. The company had revenue of $787.58 million for the quarter, compared to analyst estimates of $806.18 million. During the same quarter last year, the company posted $3.38 earnings per share. The firm's quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Matthew J. Batteh sold 700 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.09, for a total value of $350,063.00. Following the sale, the chief financial officer now directly owns 3,326 shares in the company, valued at $1,663,299.34. This represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Kelly W. Benton sold 460 shares of Saia stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.00, for a total transaction of $230,000.00. Following the transaction, the chief accounting officer now directly owns 4,287 shares of the company's stock, valued at $2,143,500. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Saia Company Profile

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.