Is Saia (SAIA) a Good Long-Term Bet?

Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTMX returned -1.13%, Advisor Class fund APDMX posted a return of -1.12%, and Institutional Class fund APHMX returned -1.07%, compared to a return of 6.90% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Partners highlighted stocks like Saia, Inc. (NASDAQ:SAIA) in the Q4 2022 investor letter. Headquartered in Johns Creek, Georgia, Saia, Inc. (NASDAQ:SAIA) is a transportation company. On January 19, 2023, Saia, Inc. (NASDAQ:SAIA) stock closed at $240.46 per share. One-month return of Saia, Inc. (NASDAQ:SAIA) was 12.18%, and its shares lost 11.84% of their value over the last 52 weeks. Saia, Inc. (NASDAQ:SAIA) has a market capitalization of $6.363 billion.

Artisan Partners made the following comment about Saia, Inc. (NASDAQ:SAIA) in its Q4 2022 investor letter:

“Saia, Inc. (NASDAQ:SAIA) operates in a relatively attractive transportation subsector, less-than-truckload (LTL) shipping, which features several solid franchises supported by real estate assets and network advantages. Saia has been opening new terminals across the Northeast, and its terminal count has increased from 151 at the end of 2016 to 187 as of Q3 2022. Now that the Northeast expansion is largely complete, Saia is entering a new phase of growth which should unlock additional operating leverage. In addition, we believe Saia has the virtuous opportunity to grow its delivery network at a healthy pace while realizing higher prices as this strengthened network results in higher quality service levels to customers. We are very cognizant of the slowing economy and the likelihood that the industry’s (and Saia’s) shipment volumes will decline in the coming quarters. But with signs of continued strong industry discipline around pricing, we viewed the stock’s selloff during the quarter as an opportunity to start a GardenSM position in what could be a solid long-term profit cycle.”

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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 shared the list of best ‘get rich quick’ stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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