Bessemer Group Inc. Sells 91,000 Shares of Saia, Inc. (NASDAQ:SAIA)

Bessemer Group Inc. reduced its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 17.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 444,011 shares of the transportation company's stock after selling 91,000 shares during the quarter. Bessemer Group Inc. owned approximately 1.67% of Saia worth $202,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in Saia during the fourth quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Saia by 172.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company's stock worth $28,000 after buying an additional 38 shares during the period. Atala Financial Inc purchased a new position in Saia in the 4th quarter valued at approximately $36,000. Huntington National Bank grew its stake in Saia by 291.7% in the 4th quarter. Huntington National Bank now owns 94 shares of the transportation company's stock valued at $43,000 after buying an additional 70 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its holdings in Saia by 76.6% during the 4th quarter. Tortoise Investment Management LLC now owns 113 shares of the transportation company's stock valued at $51,000 after acquiring an additional 49 shares during the period.

Analyst Ratings Changes

Several brokerages have recently weighed in on SAIA. Raymond James reduced their price target on Saia from $540.00 to $455.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Susquehanna reduced their target price on Saia from $540.00 to $410.00 and set a "neutral" rating for the company in a report on Monday, March 31st. Citigroup lowered their price target on shares of Saia from $498.00 to $435.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets raised shares of Saia from a "market perform" rating to an "outperform" rating and set a $455.00 price objective for the company in a research note on Monday, April 7th. Finally, TD Cowen increased their target price on shares of Saia from $456.00 to $478.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Saia presently has an average rating of "Moderate Buy" and a consensus price target of $484.39.

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Saia Trading Up 1.7 %

Shares of SAIA traded up $5.55 during trading hours on Monday, hitting $335.92. The company had a trading volume of 104,919 shares, compared to its average volume of 452,626. Saia, Inc. has a 52-week low of $287.50 and a 52-week high of $624.55. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 0.08. The stock's 50 day moving average price is $396.39 and its 200 day moving average price is $456.78. The firm has a market cap of $8.95 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.24 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last announced 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 company had revenue of $789.00 million during the quarter, compared to analysts' expectations of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. Saia's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $3.33 earnings per share. On average, research analysts predict that Saia, Inc. will post 15.46 EPS for the current year.

Insider Buying and Selling

In other news, CEO Frederick J. Holzgrefe III sold 7,534 shares of Saia stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $487.34, for a total value of $3,671,619.56. Following the sale, the chief executive officer now directly owns 17,645 shares in the company, valued at approximately $8,599,114.30. This trade represents a 29.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the executive vice president now owns 8,629 shares of the company's stock, valued at approximately $4,260,482.46. This represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,493 shares of company stock valued at $4,646,181 over the last three months. 0.30% of the stock is owned by company insiders.

Saia 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.