Teachers Retirement System of The State of Kentucky lowered its position in Saia, Inc. (NASDAQ:SAIA – Get Rating) by 7.9% during the first quarter, HoldingsChannel.com reports. The firm owned 3,500 shares of the transportation company's stock after selling 300 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Saia were worth $853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE grew its stake in Saia by 83.9% in the first quarter. Bank of America Corp DE now owns 269,130 shares of the transportation company's stock valued at $65,618,000 after purchasing an additional 122,808 shares in the last quarter. Verition Fund Management LLC purchased a new position in Saia in the first quarter valued at about $1,306,000. Walleye Capital LLC grew its stake in Saia by 173.8% in the first quarter. Walleye Capital LLC now owns 6,065 shares of the transportation company's stock valued at $1,479,000 after purchasing an additional 3,850 shares in the last quarter. Gradient Investments LLC purchased a new position in Saia in the first quarter valued at about $5,869,000. Finally, Neuberger Berman Group LLC lifted its position in shares of Saia by 4.7% in the first quarter. Neuberger Berman Group LLC now owns 17,791 shares of the transportation company's stock worth $4,338,000 after buying an additional 804 shares during the last quarter.

Insider Activity

In other news, CEO Frederick J. Holzgrefe III sold 13,983 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $240.17, for a total value of $3,358,297.11. Following the sale, the chief executive officer now directly owns 14,623 shares in the company, valued at approximately $3,512,005.91. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Frederick J. Holzgrefe III sold 13,983 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $240.17, for a total transaction of $3,358,297.11. Following the sale, the chief executive officer now directly owns 14,623 shares in the company, valued at approximately $3,512,005.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Di-Ann Eisnor sold 456 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $224.04, for a total value of $102,162.24. Following the sale, the director now owns 5,835 shares in the company, valued at $1,307,273.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,301 shares of company stock worth $9,727,819. Company insiders own 0.50% of the company's stock.

Saia Trading Down 1.0 %

Saia (NASDAQ:SAIA – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The transportation company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.62. Saia had a return on equity of 26.79% and a net margin of 12.96%. The company had revenue of $745.55 million for the quarter, compared to analyst estimates of $731.26 million. During the same period in the prior year, the company posted $2.34 EPS. The company's revenue was up 30.5% compared to the same quarter last year. Equities analysts anticipate that Saia, Inc. will post 13.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley boosted their price target on Saia from $180.00 to $195.00 and gave the stock an "underweight" rating in a research report on Friday, August 12th. Susquehanna Bancshares boosted their price target on Saia from $265.00 to $270.00 in a research report on Thursday, July 28th. Credit Suisse Group boosted their price target on Saia from $234.00 to $253.00 and gave the stock an "outperform" rating in a research report on Thursday, July 28th. Raymond James reduced their price target on Saia from $275.00 to $235.00 in a research report on Friday, July 15th. Finally, Wells Fargo & Company boosted their price target on Saia from $238.00 to $242.00 and gave the stock an "overweight" rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $267.71.

Saia Profile

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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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