Y Intercept Hong Kong Ltd Lowers Position in Saia, Inc. (NASDAQ:SAIA)

Key Points

• Y Intercept Hong Kong Ltd has reduced its stake in Saia, Inc. by 85.5%, selling 6,307 shares and holding only 1,073 shares worth approximately $375,000.
• Institutional investments have varied, with Commonwealth Equity Services increasing its position by 4.4% and Norges Bank purchasing a significant new stake worth about $64.41 million.
• Saia reported earnings of $2.67 per share, surpassing estimates, but revenue declined 0.7% year-over-year, prompting mixed analyst ratings and varying price targets.

Y Intercept Hong Kong Ltd trimmed its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 85.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,073 shares of the transportation company's stock after selling 6,307 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Saia were worth $375,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Saia by 172.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company's stock valued at $28,000 after purchasing an additional 38 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in Saia by 127.0% in the first quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company's stock valued at $29,000 after purchasing an additional 47 shares during the last quarter. Huntington National Bank boosted its holdings in Saia by 291.7% in the fourth quarter. Huntington National Bank now owns 94 shares of the transportation company's stock valued at $43,000 after purchasing an additional 70 shares during the last quarter. NBC Securities Inc. purchased a new stake in Saia in the first quarter valued at $43,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in Saia in the fourth quarter valued at $64,000.

Analyst Upgrades and Downgrades

SAIA has been the subject of a number of analyst reports. Benchmark upped their price objective on shares of Saia from $325.00 to $360.00 and gave the stock a "buy" rating in a research report on Monday. Jefferies Financial Group set a $335.00 price objective on shares of Saia and gave the company a "buy" rating in a research note on Tuesday, June 10th. Wells Fargo & Company increased their price target on shares of Saia from $290.00 to $365.00 and gave the company an "equal weight" rating in a research note on Monday. Stephens increased their price target on shares of Saia from $274.00 to $300.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Stifel Nicolaus reaffirmed a "hold" rating and set a $306.00 price objective (up previously from $277.00) on shares of Saia in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Saia currently has an average rating of "Hold" and an average target price of $347.16.

Saia Stock Down 4.3%

Shares of SAIA traded down $12.98 during midday trading on Friday, reaching $289.27. The stock had a trading volume of 310,635 shares, compared to its average volume of 662,627. The company's fifty day simple moving average is $280.97 and its two-hundred day simple moving average is $344.79. Saia, Inc. has a 1-year low of $229.12 and a 1-year high of $624.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.43. The company has a market cap of $7.71 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 13.96 and a beta of 1.98.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The transportation company reported $2.67 EPS 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 analyst estimates of $826.59 million. During the same period last year, the business earned $3.83 EPS. Saia's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that Saia, Inc. will post 15.46 earnings per share for the current year.

About Saia

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.