State Board of Administration of Florida Retirement System trimmed its position in shares of Saia, Inc. (NASDAQ:SAIA – Get Rating) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,183 shares of the transportation company’s stock after selling 250 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Saia were worth $1,726,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC lifted its stake in Saia by 107.7% in the 2nd quarter. Janiczek Wealth Management LLC now owns 135 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Saia in the first quarter valued at approximately $54,000. Point72 Hong Kong Ltd acquired a new position in shares of Saia during the 1st quarter worth approximately $110,000. Covestor Ltd raised its stake in Saia by 150.0% in the 1st quarter. Covestor Ltd now owns 495 shares of the transportation company’s stock valued at $121,000 after acquiring an additional 297 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Saia by 10.9% during the 2nd quarter. Van ECK Associates Corp now owns 756 shares of the transportation company’s stock valued at $142,000 after purchasing an additional 74 shares during the last quarter.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Raymond James dropped their price objective on shares of Saia from $245.00 to $235.00 and set an “outperform” rating on the stock in a research report on Friday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Saia from $245.00 to $281.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley decreased their target price on Saia from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Monday, October 3rd. Credit Suisse Group dropped their price target on Saia from $268.00 to $241.00 in a report on Tuesday, October 11th. Finally, Citigroup increased their price objective on Saia to $232.00 in a research report on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Saia has a consensus rating of “Moderate Buy” and an average target price of $263.00.
Saia Stock Performance
In related news, Director Di-Ann Eisnor sold 456 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $224.04, for a total transaction of $102,162.24. Following the completion of the sale, the director now directly owns 5,835 shares in the company, valued at approximately $1,307,273.40. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.
Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 400 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2021, it operated 176 owned and leased facilities; and owned approximately 5,600 tractors and 19,300 trailers.
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