Insider Selling: Saia, Inc. (SAIA) CEO Sells 40,700 Shares of Stock
Saia, Inc. (NASDAQ:SAIA) CEO Richard D. Odell sold 40,700 shares of Saia stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $64.54, for a total transaction of $2,626,778.00. Following the sale, the chief executive officer now owns 48,634 shares of the company’s stock, valued at $3,138,838.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Saia (NASDAQ:SAIA) last issued its quarterly earnings data on Friday, October 27th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.01). Saia had a net margin of 4.05% and a return on equity of 10.61%. The firm had revenue of $350.06 million during the quarter, compared to analyst estimates of $344.46 million. During the same period last year, the business earned $0.54 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year.
A number of large investors have recently modified their holdings of SAIA. JPMorgan Chase & Co. grew its position in Saia by 11.0% in the first quarter. JPMorgan Chase & Co. now owns 72,426 shares of the transportation company’s stock valued at $3,209,000 after acquiring an additional 7,157 shares in the last quarter. Prudential Financial Inc. grew its position in Saia by 1.2% in the first quarter. Prudential Financial Inc. now owns 43,908 shares of the transportation company’s stock valued at $1,945,000 after acquiring an additional 510 shares in the last quarter. OppenheimerFunds Inc. grew its position in Saia by 26.7% in the first quarter. OppenheimerFunds Inc. now owns 20,218 shares of the transportation company’s stock valued at $896,000 after acquiring an additional 4,263 shares in the last quarter. Principal Financial Group Inc. grew its position in Saia by 4.8% in the first quarter. Principal Financial Group Inc. now owns 198,061 shares of the transportation company’s stock valued at $8,774,000 after acquiring an additional 9,124 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Saia in the first quarter valued at approximately $414,000. 97.48% of the stock is owned by institutional investors.
SAIA has been the subject of several recent research reports. ValuEngine raised shares of Saia from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Morgan Stanley raised their price objective on shares of Saia from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, October 5th. Stifel Nicolaus reissued a “hold” rating and issued a $48.00 price objective (up previously from $44.00) on shares of Saia in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Saia from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Cowen and Company reissued a “hold” rating and issued a $55.00 price objective on shares of Saia in a research note on Friday, September 8th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $50.33.
Saia Company Profile
Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.
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