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

Verition Fund Management LLC cut its stake in Saia, Inc. (NASDAQ:SAIA - Free Report) by 46.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,817 shares of the transportation company's stock after selling 8,612 shares during the quarter. Verition Fund Management LLC's holdings in Saia were worth $4,293,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SAIA. Gateway Investment Advisers LLC purchased a new position in shares of Saia in the 2nd quarter valued at about $3,012,000. Westfield Capital Management Co. LP raised its stake in shares of Saia by 11.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 303,582 shares of the transportation company's stock worth $132,744,000 after buying an additional 31,991 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Saia during the 3rd quarter valued at approximately $7,058,000. Wolverine Asset Management LLC acquired a new stake in Saia in the 3rd quarter valued at $437,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Saia by 54.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,657 shares of the transportation company's stock worth $3,157,000 after acquiring an additional 2,347 shares in the last quarter.

Insider Buying and Selling

In other Saia news, EVP Rohit Lal sold 1,120 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $560.00, for a total value of $627,200.00. Following the completion of the transaction, the executive vice president now owns 8,270 shares in the company, valued at $4,631,200. The trade was a 11.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SAIA. JPMorgan Chase & Co. lifted their target price on shares of Saia from $479.00 to $481.00 and gave the company an "overweight" rating in a research report on Friday, September 6th. Wolfe Research upgraded Saia from a "peer perform" rating to an "outperform" rating and set a $511.00 price objective for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group decreased their target price on Saia from $510.00 to $490.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Bank of America lifted their price target on Saia from $443.00 to $460.00 and gave the stock a "buy" rating in a research note on Thursday, September 5th. Finally, Stephens raised their price objective on Saia from $481.00 to $515.00 and gave the company an "overweight" rating in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $505.59.

Saia Trading Down 1.0 %

Shares of SAIA traded down $5.61 during trading on Wednesday, reaching $542.36. 263,896 shares of the company traded hands, compared to its average volume of 384,410. Saia, Inc. has a twelve month low of $358.90 and a twelve month high of $628.34. The stock has a market cap of $14.42 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 3.08 and a beta of 1.74. The stock has a 50-day simple moving average of $488.68 and a 200-day simple moving average of $448.11. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The transportation company reported $3.46 earnings per share for the quarter, missing analysts' consensus estimates of $3.53 by ($0.07). The company 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%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.67 EPS. On average, analysts anticipate that Saia, Inc. will post 13.54 earnings per share for the current year.

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.