Picton Mahoney Asset Management Invests $10.77 Million in Saia, Inc. $SAIA

Key Points

• Picton Mahoney purchased a new stake of 35,989 shares in Saia (NASDAQ:SAIA) during Q3, valued at about $10.77 million and representing roughly 0.14% ownership.
• Saia reported $1.77 EPS (missed consensus of $1.90) with $789.95M in revenue (slightly above expectations), and the analyst consensus is a Hold with an average target of $380.47.
• Insider selling has been notable: the CEO sold 4,775 shares and the CAO sold 800 shares on Feb 13, and insiders have sold 15,533 shares (≈$6.02M) over the past 90 days, leaving insiders owning about 0.30% of the company.

Picton Mahoney Asset Management purchased a new stake in Saia, Inc. (NASDAQ:SAIA - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,989 shares of the transportation company's stock, valued at approximately $10,774,000. Picton Mahoney Asset Management owned approximately 0.14% of Saia at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SAIA. Parkside Financial Bank & Trust raised its holdings in Saia by 177.5% during the second quarter. Parkside Financial Bank & Trust now owns 111 shares of the transportation company's stock worth $30,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming purchased a new position in shares of Saia in the 3rd quarter valued at $30,000. AlphaQuest LLC acquired a new stake in Saia during the 2nd quarter worth $41,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in Saia by 6,400.0% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 195 shares of the transportation company's stock valued at $58,000 after acquiring an additional 192 shares during the last quarter. Finally, HM Payson & Co. boosted its stake in Saia by 28.9% in the third quarter. HM Payson & Co. now owns 205 shares of the transportation company's stock valued at $61,000 after acquiring an additional 46 shares in the last quarter.

Analyst Ratings Changes

SAIA has been the topic of a number of research analyst reports. TD Cowen reiterated a "hold" rating on shares of Saia in a research report on Friday, January 9th. JPMorgan Chase & Co. raised their price target on Saia from $349.00 to $365.00 and gave the stock an "overweight" rating in a research note on Monday, January 12th. BMO Capital Markets set a $425.00 price objective on Saia in a research note on Thursday, February 19th. Wolfe Research reissued a "peer perform" rating on shares of Saia in a report on Thursday, January 8th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $403.00 target price on shares of Saia in a research report on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Saia has an average rating of "Hold" and a consensus target price of $380.47.

Saia Stock Performance

Shares of SAIA opened at $414.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.64 and a current ratio of 1.64. Saia, Inc. has a 1 year low of $229.12 and a 1 year high of $430.11. The stock has a market capitalization of $11.05 billion, a P/E ratio of 43.53, a P/E/G ratio of 2.22 and a beta of 2.04. The company's fifty day moving average is $370.18 and its two-hundred day moving average is $325.55.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The transportation company reported $1.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.90 by ($0.13). Saia had a return on equity of 9.86% and a net margin of 7.89%.The business had revenue of $789.95 million during the quarter, compared to analysts' expectations of $773.82 million. During the same quarter in the previous year, the company posted $2.84 EPS. The company's revenue was up .1% compared to the same quarter last year. On average, sell-side analysts predict that Saia, Inc. will post 15.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Frederick J. Holzgrefe III sold 4,775 shares of the business's stock in a transaction on Friday, February 13th. The stock was sold at an average price of $388.80, for a total value of $1,856,520.00. Following the completion of the transaction, the chief executive officer directly owned 22,743 shares of the company's stock, valued at $8,842,478.40. The trade was a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Kelly W. Benton sold 800 shares of the company's stock in a transaction on Friday, February 13th. The shares were sold at an average price of $389.00, for a total value of $311,200.00. Following the completion of the sale, the chief accounting officer owned 3,157 shares in the company, valued at $1,228,073. This represents a 20.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 15,533 shares of company stock valued at $6,015,055. Corporate insiders own 0.30% of the company's stock.

About Saia

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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