CIBC Private Wealth Group LLC Cuts Stake in Saia, Inc. (NASDAQ:SAIA)

CIBC Private Wealth Group LLC lessened its stake in Saia, Inc. (NASDAQ:SAIA) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,172 shares of the transportation company’s stock after selling 1,754 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.25% of Saia worth $30,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Citigroup Inc. boosted its holdings in shares of Saia by 27.2% during the 3rd quarter. Citigroup Inc. now owns 13,731 shares of the transportation company’s stock valued at $6,004,000 after purchasing an additional 2,938 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Saia by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 3,698 shares of the transportation company’s stock worth $1,617,000 after buying an additional 1,411 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in Saia by 47.2% during the third quarter. Glenmede Trust Co. NA now owns 652 shares of the transportation company’s stock valued at $285,000 after buying an additional 209 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Saia by 1.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,016 shares of the transportation company’s stock valued at $2,631,000 after buying an additional 114 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Saia by 5.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,447 shares of the transportation company’s stock worth $33,864,000 after acquiring an additional 3,901 shares during the last quarter.

Insider Activity at Saia

In related news, CEO Frederick J. Holzgrefe III sold 7,534 shares of Saia stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the transaction, the chief executive officer now directly owns 17,645 shares of the company’s stock, valued at $8,599,114.30. This trade represents a 29.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Kelly W. Benton sold 460 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.00, for a total transaction of $230,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,287 shares of the company’s stock, valued at $2,143,500. This trade represents a 9.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,493 shares of company stock worth $4,646,181 over the last three months. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SAIA. Raymond James cut their target price on shares of Saia from $560.00 to $540.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Bank of America dropped their price objective on shares of Saia from $565.00 to $484.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Saia in a research report on Friday, March 7th. They set a “buy” rating and a $570.00 target price on the stock. TD Cowen lifted their price target on Saia from $456.00 to $478.00 and gave the stock a “hold” rating in a research report on Tuesday, February 4th. Finally, Cowen restated a “hold” rating on shares of Saia in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $513.06.

Saia Price Performance

Shares of SAIA stock opened at $349.43 on Tuesday. The company has a market capitalization of $9.30 billion, a P/E ratio of 25.86, a P/E/G ratio of 2.24 and a beta of 1.89. The company’s 50-day simple moving average is $428.96 and its two-hundred day simple moving average is $464.56. Saia, Inc. has a one year low of $342.68 and a one year high of $624.55. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.57 and a quick ratio of 1.26.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a return on equity of 16.63% and a net margin of 11.28%. The firm had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $794.69 million. During the same quarter in the previous year, the business earned $3.33 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Saia, Inc. will post 15.46 EPS 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.