Portside Wealth Group LLC Reduces Holdings in Saia, Inc. (NASDAQ:SAIA)

Portside Wealth Group LLC lowered its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,158 shares of the transportation company’s stock after selling 103 shares during the quarter. Portside Wealth Group LLC’s holdings in Saia were worth $506,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Marks Group Wealth Management Inc acquired a new position in Saia during the 3rd quarter valued at approximately $8,882,000. Van ECK Associates Corp grew its holdings in shares of Saia by 40.0% during the third quarter. Van ECK Associates Corp now owns 17,316 shares of the transportation company’s stock valued at $7,150,000 after buying an additional 4,948 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Saia by 173.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,284 shares of the transportation company’s stock valued at $4,497,000 after acquiring an additional 6,523 shares during the period. Janney Montgomery Scott LLC raised its stake in Saia by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 15,397 shares of the transportation company’s stock worth $6,732,000 after acquiring an additional 59 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in Saia by 172.7% during the 3rd quarter. Stephens Inc. AR now owns 1,290 shares of the transportation company’s stock worth $564,000 after acquiring an additional 817 shares during the period.

Saia Price Performance

Shares of Saia stock opened at $544.89 on Friday. The firm has a market cap of $14.49 billion, a PE ratio of 38.92, a P/E/G ratio of 3.28 and a beta of 1.73. Saia, Inc. has a twelve month low of $358.90 and a twelve month high of $628.34. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $446.53 and a 200 day moving average price of $433.78.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SAIA shares. 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. TD Cowen raised their price target on shares of Saia from $416.00 to $418.00 and gave the stock a “hold” rating in a research report on Thursday, September 5th. BMO Capital Markets lifted their price objective on shares of Saia from $465.00 to $495.00 and gave the company a “market perform” rating in a research note on Monday, October 28th. The Goldman Sachs Group cut their price objective on shares of Saia from $510.00 to $490.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Finally, Susquehanna boosted their target price on shares of Saia from $550.00 to $585.00 and gave the company a “positive” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Saia has a consensus rating of “Moderate Buy” and an average target price of $492.00.

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.