Should You Consider Adding Saia (SAIA) to Your Portfolio?

Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Core Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark index, the Russell 2000 Growth Index. The stock price weakness of investments in health care, industrials, financials, and consumer discretionary sectors pulled the strategy’s performance relative to the benchmark index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Global Investors highlighted stocks like Saia, Inc. (NASDAQ:SAIA) in its Q3 2022 investor letter. Headquartered in Johns Creek, Georgia, Saia, Inc. (NASDAQ:SAIA) is a transportation company. On December 9, 2022, Saia, Inc. (NASDAQ:SAIA) stock closed at $228.32 per share. One-month return of Saia, Inc. (NASDAQ:SAIA) was -10.25%, and its shares lost 29.96% of their value over the last 52 weeks. Saia, Inc. (NASDAQ:SAIA) has a market capitalization of $6.042 billion.

Wasatch Global Investors made the following comment about Saia, Inc. (NASDAQ:SAIA) in its Q3 2022 investor letter:

“Regarding purchases, we established a position in Saia, Inc. (NASDAQ:SAIA), a transport company the creates efficiencies by combining goods—from multiple shippers—that alone would fill “less than a full truckload.” Amid ongoing supply-chain challenges, we think Saia’s specialized logistics capabilities will be in especially high demand.”

Rasica/Shutterstock.com

Saia, Inc. (NASDAQ:SAIA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Saia, Inc. (NASDAQ:SAIA) at the end of the third quarter, which was 29 in the previous quarter.

We discussed Saia, Inc. (NASDAQ:SAIA) in another article and discussed whether Peter Avellone’s Cartenna Capital was right about the stocks it purchased last year. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• Top 15 Automation Companies in the US
• 15 Best Electric Car Stocks To Buy
• 22 Most Indebted Companies in the World in 2022

Disclosure: None. This article is originally published at Insider Monkey.