Verition Fund Management LLC Decreases Holdings in Saia, Inc. (NASDAQ:SAIA)

Verition Fund Management LLC lowered its position in shares of Saia, Inc. (NASDAQ:SAIA) by 46.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,817 shares of the transportation company’s stock after selling 8,612 shares during the period. Verition Fund Management LLC’s holdings in Saia were worth $4,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Saia by 5.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,447 shares of the transportation company’s stock worth $33,864,000 after purchasing an additional 3,901 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Saia by 1.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,016 shares of the transportation company’s stock worth $2,631,000 after purchasing an additional 114 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Saia during the third quarter worth about $854,000. Glenmede Trust Co. NA increased its position in shares of Saia by 47.2% during the third quarter. Glenmede Trust Co. NA now owns 652 shares of the transportation company’s stock worth $285,000 after purchasing an additional 209 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Saia by 61.7% during the third quarter. BNP Paribas Financial Markets now owns 3,698 shares of the transportation company’s stock worth $1,617,000 after purchasing an additional 1,411 shares in the last quarter.

Insider Transactions at Saia

In related news, EVP Rohit Lal sold 1,120 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $560.00, for a total value of $627,200.00. Following the sale, the executive vice president now owns 8,270 shares of the company’s stock, valued at approximately $4,631,200. This represents a 11.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Saia Price Performance

Shares of NASDAQ:SAIA opened at $547.97 on Wednesday. The business’s 50 day simple moving average is $488.68 and its 200-day simple moving average is $448.11. The firm has a market capitalization of $14.57 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 3.08 and a beta of 1.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.26. Saia, Inc. has a 12 month low of $358.90 and a 12 month high of $628.34.

Saia (NASDAQ:SAIA) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $839.82 million. Saia had a return on equity of 18.00% and a net margin of 11.83%. Saia’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $3.67 EPS. As a group, equities analysts forecast that Saia, Inc. will post 13.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Saia from $479.00 to $481.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Bank of America boosted their price target on Saia from $443.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Stifel Nicolaus cut Saia from a “buy” rating to a “hold” rating and dropped their price target for the company from $440.00 to $437.00 in a research report on Monday, October 21st. Stephens boosted their price target on Saia from $481.00 to $515.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Citigroup boosted their price target on Saia from $534.00 to $651.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.