Graham Capital Management L.P. Acquires Shares of 3,300 Saia, Inc. (NASDAQ:SAIA)

Graham Capital Management L.P. purchased a new position in Saia, Inc. (NASDAQ:SAIA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,300 shares of the transportation company's stock, valued at approximately $1,504,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SAIA. Kestra Investment Management LLC acquired a new position in Saia in the fourth quarter worth $25,000. 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 worth $28,000 after purchasing an additional 38 shares during the period. Atala Financial Inc acquired a new position in Saia in the fourth quarter worth $36,000. 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 worth $43,000 after purchasing an additional 70 shares during the period. Finally, Tortoise Investment Management LLC boosted its holdings in Saia by 76.6% in the fourth quarter. Tortoise Investment Management LLC now owns 113 shares of the transportation company's stock worth $51,000 after purchasing an additional 49 shares during the period.

Analyst Ratings Changes

SAIA has been the subject of several analyst reports. BMO Capital Markets downgraded shares of Saia from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $455.00 to $285.00 in a report on Friday, April 25th. UBS Group cut their price objective on shares of Saia from $422.00 to $305.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Wolfe Research cut shares of Saia from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 29th. TD Cowen lifted their price objective on shares of Saia from $456.00 to $478.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. Finally, Bank of America cut shares of Saia from a "buy" rating to a "neutral" rating and set a $251.00 price objective on the stock. in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Saia has an average rating of "Hold" and an average price target of $342.58.

Insider Activity

In other news, CFO Matthew J. Batteh sold 700 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.09, for a total value of $350,063.00. Following the completion of the sale, the chief financial officer now directly owns 3,326 shares of the company's stock, valued at approximately $1,663,299.34. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Kelly W. Benton sold 460 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.00, for a total value of $230,000.00. Following the completion of the sale, the chief accounting officer now directly owns 4,287 shares of the company's stock, valued at $2,143,500. This represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Saia Stock Performance

SAIA stock traded down $9.29 during midday trading on Thursday, hitting $279.70. 658,235 shares of the company traded hands, compared to its average volume of 498,396. Saia, Inc. has a twelve month low of $229.12 and a twelve month high of $624.55. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 0.08. The business has a 50 day simple moving average of $322.57 and a 200-day simple moving average of $431.46. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 2.24 and a beta of 2.03.

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