Saia, Inc. $SAIA Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management cut its Saia stake by 42.5% in the second quarter, selling 4,330 shares and retaining 5,850 shares worth approximately $2.46 million.
• Saia reported quarterly earnings of $3.51 per share, exceeding expectations of $3.38, while revenue rose 17.1% year over year to $956.49 million.
• Despite the stock opening at $352.25—below its moving averages—analysts maintain a “Moderate Buy” consensus with an average price target of $449.67.

Thornburg Investment Management Inc. cut its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 42.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,850 shares of the transportation company's stock after selling 4,330 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Saia were worth $2,464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Danske Bank A S bought a new position in shares of Saia during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Saia in the 2nd quarter worth approximately $27,000. Quarry LP lifted its stake in Saia by 8,400.0% during the fourth quarter. Quarry LP now owns 85 shares of the transportation company's stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Saia by 360.0% during the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Saia during the fourth quarter worth approximately $36,000.

Saia Stock Down 0.2%

SAIA stock opened at $352.25 on Friday. Saia, Inc. has a 52-week low of $249.32 and a 52-week high of $494.71. The company's 50 day simple moving average is $396.18 and its 200-day simple moving average is $405.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market capitalization of $9.39 billion, a P/E ratio of 34.00, a P/E/G ratio of 1.59 and a beta of 2.14.

Saia (NASDAQ:SAIA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.13. The firm had revenue of $956.49 million for the quarter, compared to analysts' expectations of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The company's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.67 EPS. As a group, equities research analysts anticipate that Saia, Inc. will post 11.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SAIA shares. Morgan Stanley decreased their price target on shares of Saia from $295.00 to $285.00 and set an "underweight" rating on the stock in a research report on Friday, July 31st. Citigroup reduced their price objective on Saia from $488.00 to $423.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. UBS Group decreased their target price on Saia from $527.00 to $504.00 and set a "buy" rating on the stock in a report on Friday, July 31st. The Goldman Sachs Group reaffirmed a "buy" rating and set a $476.00 target price on shares of Saia in a research report on Thursday, July 30th. Finally, Susquehanna upped their target price on Saia from $465.00 to $470.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Thirteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Saia has a consensus rating of "Moderate Buy" and an average target price of $449.67.

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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