Saia, Inc. (SAIA) Position Raised by Riverhead Capital Management LLC
Riverhead Capital Management LLC grew its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 68.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,531 shares of the transportation company’s stock after acquiring an additional 1,031 shares during the period. Riverhead Capital Management LLC’s holdings in Saia were worth $130,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Timpani Capital Management LLC acquired a new stake in Saia during the second quarter worth approximately $1,105,000. Wells Fargo & Company MN lifted its position in Saia by 27.8% during the second quarter. Wells Fargo & Company MN now owns 29,860 shares of the transportation company’s stock worth $1,531,000 after acquiring an additional 6,491 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Saia during the second quarter worth approximately $205,000. Swiss National Bank lifted its position in Saia by 4.3% during the second quarter. Swiss National Bank now owns 43,200 shares of the transportation company’s stock worth $2,216,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Saia by 0.6% during the second quarter. Principal Financial Group Inc. now owns 199,308 shares of the transportation company’s stock worth $10,224,000 after acquiring an additional 1,247 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.
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In related news, Director Douglas Wayne Rockel sold 3,112 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $53.70, for a total transaction of $167,114.40. Following the sale, the director now directly owns 7,314 shares in the company, valued at approximately $392,761.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Holland sold 1,618 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $56.21, for a total transaction of $90,947.78. Following the sale, the director now owns 1,028 shares in the company, valued at $57,783.88. The disclosure for this sale can be found here. Insiders have sold a total of 74,576 shares of company stock worth $4,053,452 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.
Shares of Saia, Inc. (NASDAQ SAIA) opened at 61.05 on Thursday. Saia, Inc. has a 12 month low of $27.96 and a 12 month high of $63.05. The firm’s 50-day moving average is $57.45 and its 200 day moving average is $50.45. The firm has a market capitalization of $1.54 billion, a P/E ratio of 29.62 and a beta of 0.85.
Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, July 28th. The transportation company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.06. The company had revenue of $358.20 million for the quarter, compared to analysts’ expectations of $348.53 million. Saia had a net margin of 4.12% and a return on equity of 10.84%. Saia’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. On average, equities research analysts anticipate that Saia, Inc. will post $2.18 EPS for the current year.
Several brokerages have issued reports on SAIA. ValuEngine downgraded shares of Saia from a “buy” rating to a “hold” rating in a research report on Monday. Stifel Nicolaus restated a “hold” rating and set a $53.00 price objective on shares of Saia in a research report on Thursday, September 21st. Zacks Investment Research downgraded shares of Saia from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Cowen and Company restated a “hold” rating and set a $55.00 price objective on shares of Saia in a research report on Friday, September 8th. Finally, BidaskClub downgraded shares of Saia from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Saia currently has an average rating of “Hold” and an average price target of $53.60.
Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.
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