Saia, Inc. (SAIA) Sees Large Decline in Short Interest

Saia, Inc. (NASDAQ:SAIA) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 797,826 shares, a decline of 25.8% from the October 31st total of 1,075,299 shares. Currently, 3.2% of the company’s shares are sold short. Based on an average trading volume of 144,375 shares, the short-interest ratio is currently 5.5 days.

In other news, VP Frederick J. Holzgrefe III sold 1,322 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $64.53, for a total transaction of $85,308.66. Following the sale, the vice president now directly owns 31,668 shares of the company’s stock, valued at $2,043,536.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Maschmeier sold 4,090 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $65.00, for a total transaction of $265,850.00. Following the sale, the insider now directly owns 7,316 shares in the company, valued at $475,540. The disclosure for this sale can be found here. Insiders have sold 53,405 shares of company stock valued at $3,451,982 in the last ninety days. Insiders own 1.50% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Texas Permanent School Fund boosted its holdings in Saia by 0.9% in the second quarter. Texas Permanent School Fund now owns 18,579 shares of the transportation company’s stock valued at $953,000 after purchasing an additional 160 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Saia by 0.5% in the second quarter. TIAA CREF Investment Management LLC now owns 68,236 shares of the transportation company’s stock valued at $3,501,000 after purchasing an additional 347 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its holdings in Saia by 1.0% in the second quarter. Mckinley Capital Management LLC Delaware now owns 40,800 shares of the transportation company’s stock valued at $2,093,000 after purchasing an additional 409 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Saia by 3.4% in the second quarter. The Manufacturers Life Insurance Company now owns 19,906 shares of the transportation company’s stock valued at $1,021,000 after purchasing an additional 661 shares during the last quarter. Finally, TD Asset Management Inc. boosted its holdings in Saia by 4.3% in the second quarter. TD Asset Management Inc. now owns 19,474 shares of the transportation company’s stock valued at $999,000 after purchasing an additional 800 shares during the last quarter. 99.91% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on SAIA. Cowen reissued a “hold” rating and set a $55.00 price objective on shares of Saia in a report on Thursday, October 12th. ValuEngine lowered shares of Saia from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Morgan Stanley boosted their price objective on shares of Saia from $32.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, October 5th. Stifel Nicolaus reissued a “hold” rating and set a $53.00 price objective on shares of Saia in a report on Thursday, September 21st. Finally, Zacks Investment Research lowered shares of Saia from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $50.33.

Shares of Saia (NASDAQ SAIA) opened at $67.75 on Tuesday. Saia has a 1-year low of $41.28 and a 1-year high of $68.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $1,668.34, a price-to-earnings ratio of 31.62 and a beta of 0.90.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Friday, October 27th. The transportation company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). Saia had a net margin of 4.05% and a return on equity of 10.61%. The business had revenue of $350.06 million during the quarter, compared to analysts’ expectations of $344.46 million. During the same period in the previous year, the company posted $0.54 earnings per share. Saia’s revenue for the quarter was up 10.6% compared to the same quarter last year. equities research analysts anticipate that Saia will post 2.16 EPS for the current year.

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Saia Company Profile

Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.

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