Artemis Investment Management LLP Sells 130,061 Shares of Saia, Inc. (NASDAQ:SAIA)

Artemis Investment Management LLP reduced its stake in Saia, Inc. (NASDAQ:SAIA) by 52.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,721 shares of the transportation company’s stock after selling 130,061 shares during the period. Artemis Investment Management LLP’s holdings in Saia were worth $41,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Wealth LLC boosted its position in shares of Saia by 2.6% during the fourth quarter. NewEdge Wealth LLC now owns 9,077 shares of the transportation company’s stock valued at $4,137,000 after purchasing an additional 228 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Saia in the 4th quarter worth about $15,577,000. QRG Capital Management Inc. increased its stake in shares of Saia by 8.0% in the 4th quarter. QRG Capital Management Inc. now owns 1,088 shares of the transportation company’s stock worth $496,000 after acquiring an additional 81 shares in the last quarter. US Bancorp DE increased its stake in shares of Saia by 12.4% in the 4th quarter. US Bancorp DE now owns 18,202 shares of the transportation company’s stock worth $8,295,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its position in Saia by 81.8% during the 4th quarter. Bridges Investment Management Inc. now owns 1,927 shares of the transportation company’s stock valued at $878,000 after acquiring an additional 867 shares during the period.

Saia Price Performance

Shares of NASDAQ:SAIA opened at $270.74 on Friday. The firm’s 50 day simple moving average is $271.52 and its two-hundred day simple moving average is $376.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $7.21 billion, a P/E ratio of 22.58, a P/E/G ratio of 7.08 and a beta of 2.00. Saia, Inc. has a 1-year low of $229.12 and a 1-year high of $624.55.

Saia (NASDAQ:SAIA) last issued its earnings results on Friday, April 25th. The transportation company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.77 by ($0.91). Saia had a return on equity of 14.21% and a net margin of 9.91%. The firm had revenue of $787.58 million during the quarter, compared to the consensus estimate of $806.18 million. During the same period in the prior year, the company posted $3.38 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts expect that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAIA has been the subject of several analyst reports. Stephens downgraded shares of Saia from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $515.00 to $255.00 in a research report on Tuesday, April 29th. Wells Fargo & Company decreased their target price on Saia from $400.00 to $260.00 and set an “equal weight” rating for the company in a research report on Monday, April 28th. Raymond James Financial set a $310.00 price target on shares of Saia and gave the company an “outperform” rating in a report on Monday, April 28th. BMO Capital Markets downgraded shares of Saia from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $455.00 to $285.00 in a research report on Friday, April 25th. Finally, Barclays downgraded shares of Saia from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $333.84.

Saia Profile

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.