Artemis Investment Management LLP Sells 26,486 Shares of Saia, Inc. (NASDAQ:SAIA)

Artemis Investment Management LLP reduced its stake in Saia, Inc. (NASDAQ:SAIA) by 15.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,426 shares of the transportation company’s stock after selling 26,486 shares during the period. Saia comprises approximately 1.0% of Artemis Investment Management LLP’s investment portfolio, making the stock its 29th largest position. Artemis Investment Management LLP owned 0.54% of Saia worth $63,152,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pineridge Advisors LLC acquired a new stake in shares of Saia during the 4th quarter valued at $26,000. Blue Trust Inc. increased its stake in shares of Saia by 161.5% in the second quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock valued at $32,000 after buying an additional 42 shares during the period. Rise Advisors LLC bought a new position in Saia in the 1st quarter valued at approximately $40,000. Quarry LP acquired a new stake in Saia during the 2nd quarter worth approximately $41,000. Finally, International Assets Investment Management LLC bought a new stake in Saia during the 2nd quarter worth approximately $42,000.

Saia Stock Performance

NASDAQ SAIA opened at $436.81 on Wednesday. The company has a fifty day moving average price of $407.36 and a 200-day moving average price of $448.27. The firm has a market cap of $11.61 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 2.03 and a beta of 1.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.36 and a quick ratio of 1.36. Saia, Inc. has a 1 year low of $341.26 and a 1 year high of $628.34.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Friday, July 26th. The transportation company reported $3.83 EPS for the quarter, missing the consensus estimate of $4.00 by ($0.17). Saia had a net margin of 12.26% and a return on equity of 19.14%. The firm had revenue of $823.24 million during the quarter, compared to analysts’ expectations of $821.60 million. As a group, equities research analysts predict that Saia, Inc. will post 13.91 EPS for the current fiscal year.

Analysts Set New Price Targets

SAIA has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $480.00 price target on shares of Saia in a report on Thursday, September 19th. BMO Capital Markets decreased their price target on Saia from $500.00 to $480.00 and set a “market perform” rating for the company in a report on Monday, July 29th. Susquehanna boosted their price objective on Saia from $550.00 to $585.00 and gave the company a “positive” rating in a research note on Wednesday, September 18th. Wells Fargo & Company raised their target price on Saia from $400.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Finally, Raymond James lowered their target price on Saia from $540.00 to $520.00 and set an “outperform” rating for the company in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $488.43.

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.