Is Saia Inc (SAIA) A Good Stock To Buy?

Now, specific money managers were breaking ground themselves. Scopus Asset Management, led by Alexander Mitchell, assembled the biggest position in Saia Inc (NASDAQ:SAIA). Scopus Asset Management had $8.8 million invested in the company at the end of the quarter. Ira Unschuld’s Brant Point Investment Management also initiated a $7.3 million position during the quarter. The other funds with brand new SAIA positions are Anand Parekh’s Alyeska Investment Group, Steve Cohen’s Point72 Asset Management, and Cliff Asness’s AQR Capital Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Saia Inc (NASDAQ:SAIA) but similarly valued. We will take a look at City Holding Company (NASDAQ:CHCO), Gray Television, Inc. (NYSE:GTN), Nimble Storage Inc (NYSE:NMBL), and Altra Holdings, Inc. (NASDAQ:AIMC). This group of stocks’ market valuations resemble SAIA’s market valuation.

As you can see these stocks had an average of 16.25 hedge funds with bullish positions and the average amount invested in these stocks was $86 million. That figure was $66 million in SAIA’s case. Nimble Storage Inc (NYSE:NMBL) is the most popular stock in this table. On the other hand City Holding Company (NASDAQ:CHCO) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks Saia Inc (NASDAQ:SAIA) is even less popular than CHCO. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

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