Traders Buy Large Volume of Saia Put Options (NASDAQ:SAIA)

Saia Inc (NASDAQ:SAIA) was the recipient of unusually large options trading on Monday. Stock traders purchased 1,025 put options on the company. This is an increase of approximately 1,910% compared to the typical daily volume of 51 put options.

In other Saia news, Director John J. Holland sold 1,027 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $87.83, for a total transaction of $90,201.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard D. Odell sold 16,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $92.67, for a total transaction of $1,482,720.00. Following the transaction, the chief executive officer now owns 49,551 shares of the company’s stock, valued at approximately $4,591,891.17. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in SAIA. Mason Street Advisors LLC boosted its position in shares of Saia by 1.8% in the 3rd quarter. Mason Street Advisors LLC now owns 8,797 shares of the transportation company’s stock worth $824,000 after buying an additional 155 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Saia by 2.0% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,151 shares of the transportation company’s stock worth $656,000 after acquiring an additional 200 shares during the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of Saia by 2.6% in the second quarter. Virginia Retirement Systems ET AL now owns 8,000 shares of the transportation company’s stock valued at $517,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Saia by 0.7% in the second quarter. Arizona State Retirement System now owns 40,161 shares of the transportation company’s stock valued at $2,597,000 after purchasing an additional 292 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Saia by 1.2% in the third quarter. California State Teachers Retirement System now owns 40,419 shares of the transportation company’s stock valued at $3,787,000 after purchasing an additional 482 shares during the last quarter.

Several analysts have recently commented on SAIA shares. Zacks Investment Research cut Saia from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price target on Saia from $60.00 to $70.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. ValuEngine lowered Saia from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp increased their price objective on Saia from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, September 5th. Finally, Wolfe Research set a $111.00 target price on Saia and gave the company a “buy” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Saia has an average rating of “Hold” and a consensus price target of $88.67.

SAIA opened at $90.32 on Tuesday. The stock has a market cap of $2.46 billion, a P/E ratio of 22.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $96.89 and its 200 day simple moving average is $80.38. Saia has a 1-year low of $52.04 and a 1-year high of $107.00.

Saia (NASDAQ:SAIA) last issued its quarterly earnings data on Wednesday, October 30th. The transportation company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). The firm had revenue of $468.90 million for the quarter, compared to analyst estimates of $464.97 million. Saia had a return on equity of 15.89% and a net margin of 6.72%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.07 earnings per share. Research analysts expect that Saia will post 4.39 EPS for the current fiscal year.

Saia Company Profile

Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides regional and interregional 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.

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