Cynosure Group LLC Trims Position in Saia, Inc. (NASDAQ:SAIA)

Cynosure Group LLC lowered its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,659 shares of the transportation company’s stock after selling 41 shares during the quarter. Cynosure Group LLC’s holdings in Saia were worth $725,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Saia by 2.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 869,859 shares of the transportation company’s stock worth $412,566,000 after acquiring an additional 22,143 shares during the period. Westfield Capital Management Co. LP lifted its holdings in shares of Saia by 11.8% during the third quarter. Westfield Capital Management Co. LP now owns 303,582 shares of the transportation company’s stock worth $132,744,000 after purchasing an additional 31,991 shares during the period. Allspring Global Investments Holdings LLC grew its position in Saia by 64.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 250,626 shares of the transportation company’s stock valued at $109,589,000 after buying an additional 98,383 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Saia by 15.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 235,401 shares of the transportation company’s stock valued at $111,648,000 after buying an additional 31,397 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Saia by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 221,165 shares of the transportation company’s stock worth $96,707,000 after buying an additional 6,342 shares during the last quarter.

Insider Transactions at Saia

In related news, EVP Rohit Lal sold 1,120 shares of the business’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 transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in 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 report on Friday, September 6th. BMO Capital Markets lifted their price objective on Saia from $465.00 to $495.00 and gave the company a “market perform” rating in a report on Monday, October 28th. Susquehanna increased their target price on Saia from $550.00 to $585.00 and gave the stock a “positive” rating in a research note on Wednesday, September 18th. Stephens lifted their price target on Saia from $481.00 to $515.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Jefferies Financial Group increased their price objective on Saia from $480.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $506.00.

Saia Price Performance

SAIA stock opened at $565.96 on Wednesday. The company has a market capitalization of $15.05 billion, a PE ratio of 40.43, a P/E/G ratio of 3.07 and a beta of 1.73. The stock’s 50 day moving average is $474.70 and its two-hundred day moving average is $441.53. 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, Inc. has a 52-week low of $358.90 and a 52-week high of $628.34.

Saia (NASDAQ:SAIA) last released its earnings results on Friday, October 25th. The transportation company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.07). The firm had revenue of $842.10 million for the quarter, compared to the consensus estimate of $839.82 million. Saia had a return on equity of 18.00% and a net margin of 11.83%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.67 EPS. Analysts predict that Saia, Inc. will post 13.54 earnings per share for the current fiscal year.

About Saia

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.