Moore Capital Management LP Purchases New Holdings in Saia, Inc. $SAIA

Key Points

• Moore Capital Management purchased 31,362 shares of Saia, valued at approximately $13.2 million, establishing a stake of about 0.12% in the transportation company.
• Analyst sentiment remains positive overall, with 13 Buy, six Hold, and one Sell rating; Saia has a consensus rating of “Moderate Buy” and an average price target of $449.67.
• Saia exceeded quarterly earnings expectations, reporting $3.51 in EPS versus the $3.38 consensus and $956.49 million in revenue, up 17.1% year over year.

Moore Capital Management LP purchased a new stake in Saia, Inc. (NASDAQ:SAIA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 31,362 shares of the transportation company's stock, valued at approximately $13,208,000. Moore Capital Management LP owned approximately 0.12% of Saia as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Danske Bank A S bought a new stake in shares of Saia during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Saia in the second quarter valued at $27,000. Quarry LP lifted its position in Saia by 8,400.0% in the fourth quarter. Quarry LP now owns 85 shares of the transportation company's stock worth $28,000 after purchasing an additional 84 shares during the period. Meeder Asset Management Inc. lifted its position in Saia by 360.0% in the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock worth $29,000 after purchasing an additional 54 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in Saia during the fourth quarter worth $36,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SAIA shares. Weiss Ratings restated a "hold (c)" rating on shares of Saia in a research note on Monday, August 3rd. Barclays decreased their target price on shares of Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. TD Cowen lowered their target price on shares of Saia from $445.00 to $400.00 and set a "hold" rating on the stock in a research note on Friday, July 31st. Benchmark reissued a "buy" rating on shares of Saia in a research report on Wednesday, June 3rd. Finally, Evercore upgraded shares of Saia from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $449.67.

Saia Stock Performance

Shares of Saia stock opened at $352.25 on Monday. Saia, Inc. has a 12-month low of $249.32 and a 12-month high of $494.71. The stock has a market capitalization of $9.39 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a 50-day simple moving average of $396.18 and a 200 day simple moving average of $405.78. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. The firm had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 earnings per share. Research analysts expect that Saia, Inc. will post 11.44 earnings per share for the current fiscal year.

Saia 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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