Norden Group LLC Has $15.39 Million Position in Saia, Inc. (NASDAQ:SAIA)

Norden Group LLC lifted its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 1,556.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,299 shares of the transportation company’s stock after purchasing an additional 24,711 shares during the quarter. Norden Group LLC owned about 0.10% of Saia worth $15,385,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lifestyle Asset Management Inc. bought a new position in Saia in the 1st quarter valued at about $238,000. State of Michigan Retirement System lifted its position in Saia by 1.6% in the 1st quarter. State of Michigan Retirement System now owns 6,486 shares of the transportation company’s stock valued at $3,794,000 after acquiring an additional 100 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Saia by 6.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 708,420 shares of the transportation company’s stock valued at $414,425,000 after acquiring an additional 45,155 shares in the last quarter. Thrive Wealth Management LLC lifted its position in Saia by 10.0% in the 1st quarter. Thrive Wealth Management LLC now owns 541 shares of the transportation company’s stock valued at $316,000 after acquiring an additional 49 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Saia by 5.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,310 shares of the transportation company’s stock valued at $2,521,000 after acquiring an additional 219 shares in the last quarter.

Insider Activity at Saia

In other news, Director John P. Gainor, Jr. purchased 500 shares of the stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $407.00 per share, with a total value of $203,500.00. Following the acquisition, the director now directly owns 900 shares of the company’s stock, valued at $366,300. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SAIA. The Goldman Sachs Group raised their price target on shares of Saia from $504.00 to $567.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. TD Cowen lifted their target price on shares of Saia from $473.00 to $475.00 and gave the stock a “hold” rating in a research report on Thursday, June 6th. Bank of America decreased their price target on shares of Saia from $645.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Raymond James decreased their price target on shares of Saia from $540.00 to $520.00 and set an “outperform” rating for the company in a research note on Monday, June 24th. Finally, Benchmark lifted their price target on Saia from $575.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $498.00.

Saia Stock Performance

Saia stock opened at $470.22 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $12.50 billion, a P/E ratio of 34.07, a PEG ratio of 1.67 and a beta of 1.72. The stock’s 50 day moving average is $429.06 and its 200 day moving average is $489.34. Saia, Inc. has a twelve month low of $331.23 and a twelve month high of $628.34.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, April 26th. The transportation company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.05). The business had revenue of $754.80 million during the quarter, compared to the consensus estimate of $772.36 million. Saia had a net margin of 12.42% and a return on equity of 19.53%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted $2.85 earnings per share. On average, equities research analysts predict that Saia, Inc. will post 15.31 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.