State of Tennessee Department of Treasury Lowers Stock Holdings in Saia, Inc. (NASDAQ:SAIA)

State of Tennessee Department of Treasury lowered its holdings in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,902 shares of the transportation company's stock after selling 2,261 shares during the period. State of Tennessee Department of Treasury's holdings in Saia were worth $4,057,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in shares of Saia by 20.2% during the third quarter. Tidal Investments LLC now owns 4,282 shares of the transportation company's stock valued at $1,872,000 after buying an additional 719 shares during the last quarter. Franklin Resources Inc. grew its holdings in Saia by 6.0% during the third quarter. Franklin Resources Inc. now owns 68,474 shares of the transportation company's stock worth $31,633,000 after buying an additional 3,886 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in Saia during the 3rd quarter valued at $1,408,000. GAMMA Investing LLC grew its stake in shares of Saia by 148.0% in the 4th quarter. GAMMA Investing LLC now owns 367 shares of the transportation company's stock worth $167,000 after acquiring an additional 219 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Saia in the 4th quarter worth about $301,000.

Saia Stock Down 4.1 %

Shares of NASDAQ SAIA traded down $9.91 during trading on Thursday, reaching $234.10. The company had a trading volume of 631,384 shares, compared to its average volume of 480,557. The stock has a market cap of $6.23 billion, a PE ratio of 17.31, a P/E/G ratio of 2.24 and a beta of 1.99. The business's 50-day moving average is $350.60 and its 200 day moving average is $444.77. Saia, Inc. has a 12-month low of $229.12 and a 12-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.

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

Insider Activity at Saia

In other news, EVP Patrick D. Sugar sold 799 shares of Saia stock in a transaction on Monday, February 10th. The shares were sold at an average price of $493.74, for a total transaction of $394,498.26. Following the transaction, the executive vice president now owns 8,629 shares in the company, valued at $4,260,482.46. This trade represents a 8.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Kelly W. Benton sold 460 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.00, for a total value of $230,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,287 shares in the company, valued at approximately $2,143,500. This represents a 9.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,493 shares of company stock worth $4,646,181 over the last quarter. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on SAIA shares. Susquehanna lowered their price objective on shares of Saia from $540.00 to $410.00 and set a "neutral" rating on the stock in a research report on Monday, March 31st. Barclays lowered Saia from an "overweight" rating to an "equal weight" rating in a report on Tuesday. Bank of America cut Saia from a "buy" rating to a "neutral" rating and set a $251.00 price target on the stock. in a research report on Monday. Evercore ISI reduced their target price on shares of Saia from $415.00 to $298.00 and set an "outperform" rating for the company in a research note on Monday. Finally, TD Cowen upped their price target 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. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Saia currently has an average rating of "Hold" and an average price target of $342.58.

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.