Chartwell Investment Partners LLC trimmed its position in shares of Saia, Inc. (NASDAQ:SAIA) by 50.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,287 shares of the transportation company’s stock after selling 89,180 shares during the period. Chartwell Investment Partners LLC owned about 0.34% of Saia worth $20,588,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Ground Swell Capital LLC purchased a new stake in shares of Saia during the first quarter worth $217,000. Virginia Retirement Systems ET AL raised its holdings in shares of Saia by 25.0% during the first quarter. Virginia Retirement Systems ET AL now owns 4,500 shares of the transportation company’s stock worth $1,038,000 after acquiring an additional 900 shares in the last quarter. Exane Derivatives raised its holdings in shares of Saia by 4.7% during the first quarter. Exane Derivatives now owns 1,492 shares of the transportation company’s stock worth $344,000 after acquiring an additional 67 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in shares of Saia by 12,454.5% during the first quarter. Meeder Asset Management Inc. now owns 1,381 shares of the transportation company’s stock worth $317,000 after acquiring an additional 1,370 shares in the last quarter. Finally, British Airways Pensions Investment Management Ltd raised its holdings in shares of Saia by 6.6% during the first quarter. British Airways Pensions Investment Management Ltd now owns 59,682 shares of the transportation company’s stock worth $13,761,000 after acquiring an additional 3,679 shares in the last quarter.
SAIA stock traded down $3.18 during trading on Wednesday, reaching $239.72. 1,078 shares of the stock were exchanged, compared to its average volume of 193,977. Saia, Inc. has a twelve month low of $89.11 and a twelve month high of $249.30. The company has a market capitalization of $6.31 billion, a P/E ratio of 53.98, a price-to-earnings-growth ratio of 1.65 and a beta of 1.20. The stock has a 50 day simple moving average of $234.76 and a 200-day simple moving average of $199.14. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.
SAIA has been the subject of several recent research reports. Truist Securities increased their price objective on Saia from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, April 21st. Stephens upgraded Saia from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $230.00 to $295.00 in a report on Tuesday, April 13th. UBS Group initiated coverage on Saia in a report on Tuesday, January 19th. They set a “neutral” rating and a $200.00 target price on the stock. Morgan Stanley raised their target price on Saia from $115.00 to $125.00 and gave the company an “underweight” rating in a report on Tuesday, April 13th. Finally, Bank of America restated an “underperform” rating and set a $202.00 target price (down from $208.00) on shares of Saia in a report on Wednesday, March 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Saia has a consensus rating of “Hold” and an average price target of $209.71.
In other Saia news, VP Karla J. Staver sold 1,603 shares of Saia stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $209.83, for a total transaction of $336,357.49. Also, VP Raymond R. Ramu sold 8,884 shares of Saia stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $203.40, for a total value of $1,807,005.60. Following the sale, the vice president now directly owns 5,762 shares in the company, valued at $1,171,990.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,190 shares of company stock worth $11,260,028. 1.20% of the stock is owned by company insiders.
Saia, Inc, through 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. As of December 31, 2020, it operated 174 owned and leased facilities; and owned approximately 5,700 tractors and 17,400 trailers.
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