Short Interest in Saia, Inc. (NASDAQ:SAIA) Grows By 39.6%

Saia, Inc. (NASDAQ:SAIA) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 2,037,531 shares, a growth of 39.6% from the December 15th total of 1,459,957 shares. Based on an average trading volume of 396,604 shares, the days-to-cover ratio is presently 5.1 days. Approximately 7.7% of the shares of the stock are sold short. Approximately 7.7% of the shares of the stock are sold short. Based on an average trading volume of 396,604 shares, the days-to-cover ratio is presently 5.1 days.

Insider Activity at Saia

In related news, VP Raymond R. Ramu sold 1,000 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $266.57, for a total value of $266,570.00. Following the completion of the transaction, the vice president directly owned 4,902 shares of the company’s stock, valued at approximately $1,306,726.14. This represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna E. Epps bought 422 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was acquired at an average cost of $277.60 per share, for a total transaction of $117,147.20. Following the completion of the purchase, the director directly owned 1,852 shares in the company, valued at approximately $514,115.20. This represents a 29.51% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Saia

Hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. increased its stake in Saia by 35.4% during the 3rd quarter. Alliancebernstein L.P. now owns 2,273,396 shares of the transportation company’s stock worth $680,564,000 after buying an additional 594,674 shares during the period. Capital International Investors boosted its position in Saia by 0.8% in the 3rd quarter. Capital International Investors now owns 1,419,062 shares of the transportation company’s stock valued at $424,794,000 after buying an additional 11,454 shares during the period. Viking Global Investors LP grew its stake in shares of Saia by 67.2% in the third quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company’s stock worth $414,281,000 after acquiring an additional 556,229 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Saia by 25.3% during the second quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company’s stock worth $226,230,000 after acquiring an additional 166,486 shares during the period. Finally, Invesco Ltd. increased its position in shares of Saia by 1,300.4% during the third quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock worth $209,976,000 after acquiring an additional 651,332 shares during the period.

Saia Trading Down 2.2%

SAIA opened at $350.89 on Monday. Saia has a 52 week low of $229.12 and a 52 week high of $538.03. The business has a fifty day simple moving average of $318.53 and a 200-day simple moving average of $306.61. The firm has a market cap of $9.35 billion, a P/E ratio of 33.13 and a beta of 2.09. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.09.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.28. Saia had a return on equity of 11.32% and a net margin of 8.77%.The firm had revenue of $839.64 million for the quarter, compared to the consensus estimate of $824.06 million. During the same quarter in the previous year, the business earned $3.46 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts expect that Saia will post 15.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SAIA shares. Raymond James Financial cut their price target on shares of Saia from $360.00 to $355.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Rothschild Redb upgraded Saia to a “hold” rating in a research report on Wednesday, November 26th. Redburn Partners set a $262.00 target price on Saia in a research note on Wednesday, November 26th. Bank of America upped their price target on Saia from $322.00 to $367.00 and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Finally, TD Cowen increased their price target on Saia from $283.00 to $326.00 and gave the stock a “hold” rating in a report on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $343.95.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company’s core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.