Granite Investment Partners LLC Sells 3,158 Shares of Saia, Inc. (NASDAQ:SAIA)

Granite Investment Partners LLC cut its holdings in Saia, Inc. (NASDAQ:SAIA – Get Rating) by 2.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,569 shares of the transportation company’s stock after selling 3,158 shares during the period. Saia makes up approximately 1.1% of Granite Investment Partners LLC’s portfolio, making the stock its 18th biggest position. Granite Investment Partners LLC owned approximately 0.50% of Saia worth $27,587,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Saia by 3.0% in the 3rd quarter. BlackRock Inc. now owns 3,156,182 shares of the transportation company’s stock valued at $599,674,000 after buying an additional 92,688 shares during the period. Vanguard Group Inc. grew its stake in shares of Saia by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,632,331 shares of the transportation company’s stock valued at $641,815,000 after buying an additional 39,660 shares during the period. Capital International Investors boosted its stake in Saia by 10.2% during the 1st quarter. Capital International Investors now owns 1,583,500 shares of the transportation company’s stock valued at $386,089,000 after purchasing an additional 146,262 shares during the last quarter. State Street Corp boosted its stake in Saia by 4.1% during the 1st quarter. State Street Corp now owns 896,627 shares of the transportation company’s stock valued at $218,616,000 after purchasing an additional 35,076 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Saia by 49.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,195 shares of the transportation company’s stock valued at $173,648,000 after purchasing an additional 236,105 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Evercore ISI lifted their price target on Saia from $248.00 to $298.00 and gave the company an “in-line” rating in a research note on Monday, February 6th. Raymond James lifted their price target on Saia from $310.00 to $320.00 in a research note on Monday, May 1st. The Goldman Sachs Group lifted their price target on Saia from $232.00 to $262.00 and gave the company a “neutral” rating in a research note on Monday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price target on Saia from $349.00 to $363.00 in a research note on Monday, May 1st. Finally, Wells Fargo & Company lifted their target price on shares of Saia from $242.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $298.60.

Saia Stock Performance

Shares of NASDAQ:SAIA traded up $2.41 during mid-day trading on Friday, reaching $283.33. The company had a trading volume of 57,889 shares, compared to its average volume of 397,936. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.01. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 3.36 and a beta of 1.51. The company’s 50-day moving average price is $274.59 and its 200-day moving average price is $258.46. Saia, Inc. has a one year low of $168.03 and a one year high of $306.40.

Saia (NASDAQ:SAIA – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The transportation company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.17. The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $667.28 million. Saia had a net margin of 12.69% and a return on equity of 23.07%. Saia’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.98 EPS. As a group, equities research analysts anticipate that Saia, Inc. will post 12.27 EPS for the current fiscal year.

Insider Buying and Selling at Saia

In other Saia news, EVP Patrick D. Sugar sold 980 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $293.53, for a total transaction of $287,659.40. Following the sale, the executive vice president now owns 8,869 shares of the company’s stock, valued at approximately $2,603,317.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Saia news, Director Donna E. Epps sold 240 shares of the business’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $280.85, for a total transaction of $67,404.00. Following the sale, the director now owns 1,983 shares of the company’s stock, valued at approximately $556,925.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick D. Sugar sold 980 shares of the business’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $293.53, for a total transaction of $287,659.40. Following the sale, the executive vice president now directly owns 8,869 shares in the company, valued at approximately $2,603,317.57. The disclosure for this sale can be found here. Insiders have sold 4,953 shares of company stock valued at $1,450,996 in the last 90 days. 0.50% of the stock is currently owned by company insiders.

Saia Profile

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Saia, Inc operates as a transportation holding company. The firm through its wholly-owned subsidiaries provides regional and interregional less-than-truckload (LTL) services through a single integrated organization. The firm also offers other value-added services, including non-asset truckload, expedited and logistics services across North America.