M&T Bank Corp Sells 57 Shares of Saia, Inc. (NASDAQ:SAIA)

M&T Bank Corp lowered its position in Saia, Inc. (NASDAQ:SAIA) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,860 shares of the transportation company’s stock after selling 57 shares during the quarter. M&T Bank Corp’s holdings in Saia were worth $2,216,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SAIA. Kestra Investment Management LLC bought a new stake in shares of Saia during the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp raised its stake in shares of Saia by 47.8% during the fourth quarter. Jones Financial Companies Lllp now owns 201 shares of the transportation company’s stock valued at $92,000 after acquiring an additional 65 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Saia during the fourth quarter valued at approximately $154,000. GAMMA Investing LLC raised its stake in shares of Saia by 148.0% during the fourth quarter. GAMMA Investing LLC now owns 367 shares of the transportation company’s stock valued at $167,000 after acquiring an additional 219 shares in the last quarter. Finally, World Equity Group Inc. bought a new stake in shares of Saia during the fourth quarter valued at approximately $201,000.

Wall Street Analyst Weigh In

SAIA has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Saia from $544.00 to $498.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Raymond James decreased their price target on shares of Saia from $560.00 to $540.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Stephens reissued an “overweight” rating and issued a $600.00 price objective on shares of Saia in a research note on Thursday, February 6th. Jefferies Financial Group boosted their price objective on shares of Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, TD Cowen boosted their price objective on shares of Saia from $456.00 to $478.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $530.00.

Insider Activity at Saia

In related news, CAO Kelly W. Benton sold 460 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.00, for a total transaction of $230,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,287 shares in the company, valued at $2,143,500. The trade was a 9.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew J. Batteh sold 700 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $500.09, for a total transaction of $350,063.00. Following the transaction, the chief financial officer now owns 3,326 shares of the company’s stock, valued at $1,663,299.34. This represents a 17.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,493 shares of company stock worth $4,646,181 over the last three months. Company insiders own 0.30% of the company’s stock.

Saia Price Performance

NASDAQ SAIA opened at $375.92 on Monday. The firm has a market capitalization of $10.01 billion, a P/E ratio of 27.83, a P/E/G ratio of 2.24 and a beta of 1.89. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. Saia, Inc. has a 12-month low of $358.90 and a 12-month high of $624.55. The firm’s fifty day simple moving average is $461.82 and its two-hundred day simple moving average is $468.28.

Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The company had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $794.69 million. Saia had a net margin of 11.28% and a return on equity of 16.63%. Saia’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $3.33 earnings per share. Analysts forecast that Saia, Inc. will post 15.46 EPS for the current fiscal year.

About Saia

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.