Mesirow Financial Investment Management Equity Management trimmed its holdings in shares of Saia Inc (NASDAQ:SAIA) by 22.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 135,245 shares of the transportation company’s stock after selling 39,745 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Saia were worth $10,340,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Jennison Associates LLC grew its holdings in shares of Saia by 64.9% in the 2nd quarter. Jennison Associates LLC now owns 1,087,522 shares of the transportation company’s stock worth $87,926,000 after acquiring an additional 427,842 shares during the period. Wells Fargo & Company MN grew its holdings in Saia by 75.1% during the 2nd quarter. Wells Fargo & Company MN now owns 683,271 shares of the transportation company’s stock valued at $55,243,000 after buying an additional 293,154 shares during the last quarter. BlackRock Inc. grew its holdings in Saia by 8.5% during the 2nd quarter. BlackRock Inc. now owns 3,561,771 shares of the transportation company’s stock valued at $287,970,000 after buying an additional 278,613 shares during the last quarter. British Airways Pensions Investment Management Ltd acquired a new stake in Saia during the 2nd quarter valued at $11,792,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in Saia by 100.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 190,086 shares of the transportation company’s stock valued at $14,949,000 after buying an additional 95,043 shares during the last quarter. 99.39% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jeffrey C. Ward sold 1,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $76.01, for a total transaction of $76,010.00. Following the sale, the director now owns 8,279 shares in the company, valued at $629,286.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Wednesday, October 31st. The transportation company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.03. Saia had a return on equity of 13.38% and a net margin of 7.45%. The business had revenue of $425.60 million for the quarter, compared to analysts’ expectations of $417.70 million. During the same quarter last year, the firm earned $0.55 earnings per share. The business’s revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts predict that Saia Inc will post 3.86 EPS for the current fiscal year.
A number of equities research analysts have commented on SAIA shares. ValuEngine cut Saia from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut Saia from a “buy” rating to a “hold” rating in a report on Friday, October 5th. BidaskClub cut Saia from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 9th. Morgan Stanley raised their price objective on Saia from $57.00 to $59.00 and gave the stock a “sell” rating in a report on Tuesday, October 9th. Finally, Cowen raised their price objective on Saia from $80.00 to $84.00 and gave the stock a “market perform” rating in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $78.00.
Saia, Inc, through its wholly-owned subsidiaries, operates as a transportation company in North America. The company provides regional and interregional less-than-truckload services for shipments between 100 and 10,000 pounds; truckload services; and other value-added services, including non-asset truckload, expedited, and logistics services.
Further Reading: Closed-End Mutual Funds
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