Citadel Advisors LLC lowered its holdings in Saia, Inc. (NASDAQ:SAIA) by 83.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,401 shares of the transportation company’s stock after selling 263,860 shares during the quarter. Citadel Advisors LLC owned 0.21% of Saia worth $3,283,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Saia by 27.2% in the third quarter. JPMorgan Chase & Co. now owns 63,497 shares of the transportation company’s stock worth $3,933,000 after acquiring an additional 13,562 shares during the period. Virginia Retirement Systems ET AL boosted its holdings in Saia by 38.1% during the third quarter. Virginia Retirement Systems ET AL now owns 35,500 shares of the transportation company’s stock worth $2,224,000 after buying an additional 9,800 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Saia during the third quarter worth $15,904,000. American International Group Inc. boosted its holdings in Saia by 5.7% during the third quarter. American International Group Inc. now owns 20,063 shares of the transportation company’s stock worth $1,257,000 after buying an additional 1,089 shares in the last quarter. Finally, EAM Investors LLC purchased a new stake in Saia during the third quarter worth $2,487,000. Hedge funds and other institutional investors own 99.89% of the company’s stock.
In related news, CEO Richard D. Odell sold 40,700 shares of Saia stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $64.54, for a total value of $2,626,778.00. Following the completion of the transaction, the chief executive officer now owns 48,634 shares in the company, valued at $3,138,838.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Raymond R. Ramu sold 7,293 shares of Saia stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $65.00, for a total transaction of $474,045.00. Following the completion of the transaction, the vice president now owns 20,996 shares of the company’s stock, valued at approximately $1,364,740. The disclosure for this sale can be found here. In the last three months, insiders sold 53,405 shares of company stock valued at $3,451,982. Insiders own 1.50% of the company’s stock.
Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, October 27th. The transportation company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Saia had a net margin of 4.05% and a return on equity of 10.61%. The company had revenue of $350.06 million for the quarter, compared to analyst estimates of $344.46 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. Saia’s revenue was up 10.6% on a year-over-year basis. equities research analysts anticipate that Saia, Inc. will post 2.16 EPS for the current year.
A number of brokerages recently issued reports on SAIA. Cowen reissued a “hold” rating and set a $55.00 price target on shares of Saia in a report on Thursday, October 12th. ValuEngine downgraded shares of Saia from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Morgan Stanley increased their price objective on shares of Saia from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $53.00 price objective on shares of Saia in a report on Thursday, September 21st. Finally, Zacks Investment Research downgraded shares of Saia from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $50.33.
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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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