Freestone Grove Partners LP Invests $36.21 Million in Saia, Inc. (NASDAQ:SAIA)

Freestone Grove Partners LP bought a new stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 79,451 shares of the transportation company's stock, valued at approximately $36,208,000. Freestone Grove Partners LP owned approximately 0.30% of Saia as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of SAIA. Rehmann Capital Advisory Group boosted its stake in shares of Saia by 11.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 536 shares of the transportation company's stock worth $244,000 after acquiring an additional 55 shares during the period. Comerica Bank boosted its stake in Saia by 9.8% in the 4th quarter. Comerica Bank now owns 68,590 shares of the transportation company's stock worth $31,258,000 after purchasing an additional 6,125 shares during the period. Northern Trust Corp grew its holdings in Saia by 26.9% during the 4th quarter. Northern Trust Corp now owns 232,233 shares of the transportation company's stock valued at $105,836,000 after buying an additional 49,183 shares in the last quarter. Boothbay Fund Management LLC raised its position in shares of Saia by 33.5% during the fourth quarter. Boothbay Fund Management LLC now owns 1,927 shares of the transportation company's stock valued at $878,000 after buying an additional 484 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Saia in the fourth quarter worth $908,000.

Insider Buying and Selling

In other news, CAO Kelly W. Benton sold 460 shares of Saia stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.00, for a total transaction of $230,000.00. Following the completion of the sale, the chief accounting officer now directly owns 4,287 shares in the company, valued at approximately $2,143,500. The trade was a 9.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew J. Batteh sold 700 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.09, for a total value of $350,063.00. Following the completion of the transaction, the chief financial officer now directly owns 3,326 shares in the company, valued at approximately $1,663,299.34. The trade was a 17.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,493 shares of company stock worth $4,646,181 in the last three months. Corporate insiders own 0.30% of the company's stock.

Saia Stock Down 1.6 %

SAIA traded down $4.07 during trading on Tuesday, hitting $255.09. The stock had a trading volume of 156,191 shares, compared to its average volume of 485,818. The stock has a 50 day simple moving average of $341.13 and a two-hundred day simple moving average of $440.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. Saia, Inc. has a twelve month low of $229.12 and a twelve month high of $624.55. The company has a market capitalization of $6.79 billion, a PE ratio of 18.97, a PEG ratio of 2.24 and a beta of 2.03.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Friday, April 25th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.77 by ($0.91). The business had revenue of $787.58 million for the quarter, compared to analyst estimates of $806.18 million. Saia had a net margin of 11.28% and a return on equity of 16.63%. The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.38 earnings per share. On average, research analysts predict that Saia, Inc. will post 15.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

SAIA has been the subject of several research reports. Morgan Stanley set a $250.00 price objective on shares of Saia in a report on Friday, April 25th. Wells Fargo & Company lowered their target price on Saia from $400.00 to $260.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Raymond James set a $310.00 price objective on shares of Saia and gave the company an "outperform" rating in a research report on Monday, April 28th. Stephens cut shares of Saia from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $515.00 to $255.00 in a research report on Tuesday, April 29th. Finally, Evercore ISI dropped their price target on Saia from $415.00 to $298.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $342.58.

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.