Marks Group Wealth Management Inc Grows Holdings in Saia, Inc. $SAIA

Key Points

• Marks Group Wealth Management increased its Saia stake by 32.9% in Q1, buying 4,717 shares to bring its total holding to 19,040 shares worth about $6.69 million.
• Several other large institutional investors also added to Saia positions, including Price T Rowe, Viking Global, Invesco, Wasatch Advisors, and First Trust, indicating continued hedge fund interest in the stock.
• Analysts remain broadly optimistic: several raised price targets, and Saia now has a Moderate Buy consensus with an average target price of $462.72, while the company also reported earnings and revenue that beat expectations in its latest quarter.

Marks Group Wealth Management Inc boosted its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 32.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,040 shares of the transportation company's stock after buying an additional 4,717 shares during the quarter. Marks Group Wealth Management Inc owned 0.07% of Saia worth $6,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SAIA. Price T Rowe Associates Inc. MD increased its position in shares of Saia by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,798,841 shares of the transportation company's stock worth $587,358,000 after acquiring an additional 43,690 shares during the last quarter. Viking Global Investors LP boosted its holdings in Saia by 67.2% in the third quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company's stock valued at $414,281,000 after purchasing an additional 556,229 shares during the last quarter. Invesco Ltd. boosted its holdings in Saia by 31.7% in the fourth quarter. Invesco Ltd. now owns 923,912 shares of the transportation company's stock valued at $301,676,000 after purchasing an additional 222,494 shares during the last quarter. Wasatch Advisors LP grew its stake in Saia by 25.3% during the 2nd quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company's stock valued at $226,230,000 after purchasing an additional 166,486 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Saia by 33.0% during the 4th quarter. First Trust Advisors LP now owns 740,798 shares of the transportation company's stock worth $241,885,000 after purchasing an additional 183,669 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group increased their target price on Saia from $500.00 to $550.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. The Goldman Sachs Group upped their price target on shares of Saia from $441.00 to $494.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. increased their price objective on shares of Saia from $465.00 to $490.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. BMO Capital Markets raised their price objective on shares of Saia from $450.00 to $470.00 and gave the stock a "market perform" rating in a report on Thursday, June 4th. Finally, Evercore raised shares of Saia from an "in-line" rating to an "outperform" rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Saia presently has a consensus rating of "Moderate Buy" and an average target price of $462.72.

Saia Stock Down 3.6%

NASDAQ:SAIA opened at $417.05 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $447.33 and a 200-day moving average of $400.64. The firm has a market capitalization of $11.12 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.03 and a beta of 2.13. Saia, Inc. has a 52 week low of $249.32 and a 52 week high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.04. Saia had a return on equity of 9.60% and a net margin of 7.84%.The business had revenue of $806.23 million for the quarter, compared to the consensus estimate of $789.08 million. During the same quarter last year, the business posted $1.86 EPS. The business's revenue was up 2.4% on a year-over-year basis. Analysts predict that Saia, Inc. will post 11.42 EPS for the current year.

Saia Company Profile

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company's core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.

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