Appian Way Asset Management LP Makes New $7.12 Million Investment in Saia, Inc. (NASDAQ:SAIA)

Appian Way Asset Management LP bought a new stake in Saia, Inc. (NASDAQ:SAIA) during the third quarter, HoldingsChannel reports. The firm bought 16,274 shares of the transportation company’s stock, valued at approximately $7,116,000. Saia accounts for approximately 1.6% of Appian Way Asset Management LP’s investment portfolio, making the stock its 17th largest position.

Several other large investors have also modified their holdings of SAIA. American Century Companies Inc. raised its stake in Saia by 347.3% during the second quarter. American Century Companies Inc. now owns 159,853 shares of the transportation company’s stock valued at $75,817,000 after buying an additional 124,117 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Saia by 64.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 250,626 shares of the transportation company’s stock worth $109,589,000 after purchasing an additional 98,383 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Saia by 43,625.8% during the third quarter. International Assets Investment Management LLC now owns 38,916 shares of the transportation company’s stock worth $17,016,000 after purchasing an additional 38,827 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Saia by 11.8% in the third quarter. Westfield Capital Management Co. LP now owns 303,582 shares of the transportation company’s stock worth $132,744,000 after purchasing an additional 31,991 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in shares of Saia by 67.2% during the second quarter. Clearbridge Investments LLC now owns 79,283 shares of the transportation company’s stock worth $37,603,000 after purchasing an additional 31,876 shares during the period.

Saia Stock Performance

Shares of NASDAQ SAIA opened at $569.08 on Friday. The stock’s fifty day simple moving average is $484.51 and its 200 day simple moving average is $445.47. The stock has a market capitalization of $15.13 billion, a price-to-earnings ratio of 40.65, a PEG ratio of 3.11 and a beta of 1.73. Saia, Inc. has a 52-week low of $358.90 and a 52-week high of $628.34. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA) last announced its earnings results on Friday, October 25th. The transportation company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.53 by ($0.07). The firm had revenue of $842.10 million during the quarter, compared to analyst estimates of $839.82 million. Saia had a return on equity of 18.00% and a net margin of 11.83%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.67 earnings per share. As a group, sell-side analysts forecast that Saia, Inc. will post 13.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Rohit Lal sold 1,120 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $560.00, for a total transaction of $627,200.00. Following the transaction, the executive vice president now directly owns 8,270 shares of the company’s stock, valued at approximately $4,631,200. The trade was a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SAIA. TD Cowen lifted their price target on shares of Saia from $416.00 to $418.00 and gave the company a “hold” rating in a report on Thursday, September 5th. Benchmark restated a “buy” rating and set a $480.00 price objective on shares of Saia in a research note on Thursday, September 19th. Stifel Nicolaus lowered Saia from a “buy” rating to a “hold” rating and dropped their target price for the stock from $440.00 to $437.00 in a research report on Monday, October 21st. The Goldman Sachs Group dropped their price objective on shares of Saia from $510.00 to $490.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Susquehanna increased their price objective on Saia from $550.00 to $585.00 and gave the stock a “positive” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $506.00.

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.