Wellington Management Group LLP Reduces Position in Saia, Inc. $SAIA

Key Points

• Wellington Management Group LLP has reduced its stake in Saia, Inc. by 11.5%, owning approximately 0.25% of the company, worth around $23 million after selling 8,609 shares.
• Saia reported earnings of $2.67 EPS for the last quarter, exceeding analysts' expectations, although its revenue decreased by 0.7% compared to the previous year.
• Wall Street analysts give Saia a consensus rating of "Moderate Buy" with an average target price of $347.16, with several firms raising their price targets significantly in recent reports.

Wellington Management Group LLP lowered its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 11.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,227 shares of the transportation company's stock after selling 8,609 shares during the period. Wellington Management Group LLP owned about 0.25% of Saia worth $23,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Mariner LLC boosted its position in Saia by 11.0% during the fourth quarter. Mariner LLC now owns 1,822 shares of the transportation company's stock worth $831,000 after acquiring an additional 180 shares during the last quarter. First Trust Advisors LP boosted its position in Saia by 76.2% during the fourth quarter. First Trust Advisors LP now owns 24,739 shares of the transportation company's stock worth $11,274,000 after acquiring an additional 10,695 shares during the last quarter. MML Investors Services LLC boosted its position in Saia by 37.5% during the fourth quarter. MML Investors Services LLC now owns 5,932 shares of the transportation company's stock worth $2,703,000 after acquiring an additional 1,619 shares during the last quarter. MGO One Seven LLC boosted its position in Saia by 7.0% during the fourth quarter. MGO One Seven LLC now owns 874 shares of the transportation company's stock worth $398,000 after acquiring an additional 57 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Saia during the fourth quarter worth about $908,000.

Saia Stock Down 3.4%

SAIA traded down $10.43 during trading hours on Thursday, hitting $292.36. 748,838 shares of the company's stock were exchanged, compared to its average volume of 523,195. Saia, Inc. has a 12-month low of $229.12 and a 12-month high of $624.55. The firm has a 50 day moving average of $295.50 and a 200 day moving average of $318.32. The firm has a market cap of $7.79 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 13.96 and a beta of 1.99. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Friday, July 25th. The transportation company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.28. Saia had a net margin of 8.96% and a return on equity of 12.42%. The firm had revenue of $817.12 million for the quarter, compared to the consensus estimate of $826.59 million. During the same period in the prior year, the firm earned $3.83 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. Analysts predict that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Susquehanna boosted their price target on shares of Saia from $275.00 to $340.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Wolfe Research upgraded shares of Saia from a "hold" rating to a "strong-buy" rating in a report on Sunday, June 8th. Benchmark boosted their target price on shares of Saia from $325.00 to $360.00 and gave the company a "buy" rating in a report on Monday, July 28th. Stifel Nicolaus reiterated a "hold" rating and issued a $306.00 target price (up from $277.00) on shares of Saia in a report on Thursday, July 24th. Finally, Evercore ISI boosted their target price on shares of Saia from $297.00 to $345.00 and gave the company an "outperform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $347.16.

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.