Cinctive Capital Management LP Buys New Position in Saia, Inc. (NASDAQ:SAIA)

Cinctive Capital Management LP bought a new position in Saia, Inc. (NASDAQ:SAIA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,850 shares of the transportation company’s stock, valued at approximately $3,577,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its position in shares of Saia by 69.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,939,615 shares of the transportation company’s stock worth $883,941,000 after buying an additional 794,197 shares during the period. Norges Bank bought a new position in Saia during the fourth quarter worth $64,410,000. Artemis Investment Management LLP grew its holdings in Saia by 72.9% in the fourth quarter. Artemis Investment Management LLP now owns 249,782 shares of the transportation company’s stock worth $113,833,000 after purchasing an additional 105,356 shares during the period. Raymond James Financial Inc. bought a new stake in Saia in the fourth quarter valued at $46,514,000. Finally, Stephens Investment Management Group LLC acquired a new position in shares of Saia during the fourth quarter valued at about $45,767,000.

Saia Price Performance

Saia stock opened at $370.82 on Thursday. Saia, Inc. has a 52 week low of $342.68 and a 52 week high of $624.55. The company’s 50 day moving average price is $423.44 and its two-hundred day moving average price is $463.36. The stock has a market cap of $9.87 billion, a P/E ratio of 27.45, a P/E/G ratio of 2.24 and a beta of 1.89. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The business had revenue of $789.00 million for the quarter, compared to the consensus estimate of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 earnings per share. On average, equities analysts predict that Saia, Inc. will post 15.46 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Frederick J. Holzgrefe III sold 7,534 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the completion of the sale, the chief executive officer now owns 17,645 shares in the company, valued at $8,599,114.30. This trade represents a 29.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Patrick D. Sugar sold 799 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $493.74, for a total value of $394,498.26. Following the completion of the transaction, the executive vice president now owns 8,629 shares in the company, valued at approximately $4,260,482.46. The trade was a 8.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,493 shares of company stock valued at $4,646,181. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SAIA has been the subject of several research reports. Jefferies Financial Group raised their target price on Saia from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Barclays reduced their price objective on Saia from $535.00 to $475.00 and set an “overweight” rating for the company in a research note on Wednesday. Stifel Nicolaus raised Saia from a “hold” rating to a “buy” rating and set a $524.00 target price on the stock in a research report on Monday, February 24th. Deutsche Bank Aktiengesellschaft started coverage on shares of Saia in a research report on Friday, March 7th. They issued a “buy” rating and a $570.00 price target for the company. Finally, TD Cowen upped their price objective on shares of Saia from $456.00 to $478.00 and gave the stock a “hold” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $509.72.

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.