Saia (SAIA) Reported Higher Than Expected Results

TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy underperformed the Russell 2000 Growth Index and returned 2.50% (net), and the index return was 7.05%. Consumer Staples, Health Care, Industrials, and Information Technology showed relative weakness. However, Communication Services and Materials showed strength, partially offsetting the weakness. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare U.S. Small Cap Growth Strategy highlighted stocks like Saia, Inc. (NASDAQ:SAIA) in the second quarter 2023 investor letter. Headquartered in Johns Creek, Georgia, Saia, Inc. (NASDAQ:SAIA) is a transportation company. On September 22, 2023, Saia, Inc. (NASDAQ:SAIA) stock closed at $386.61 per share. One-month return of Saia, Inc. (NASDAQ:SAIA) was -6.36%, and its shares gained 108.44% of their value over the last 52 weeks. Saia, Inc. (NASDAQ:SAIA) has a market capitalization of $10.259 billion.

TimesSquare U.S. Small Cap Growth Strategy made the following comment about Saia, Inc. (NASDAQ:SAIA) in its Q2 2023 investor letter:

“Saia, Inc. (NASDAQ:SAIA), a transportation services company, surged ahead by 26% and posted a solid quarter with higher-than-expected earnings. Better pricing offset a volume decline. Saia has opened four new terminals year-to-date.”

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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, 28 hedge fund portfolios held Saia, Inc. (NASDAQ:SAIA) at the end of second quarter which was 20 in the previous quarter.

We discussed Saia, Inc. (NASDAQ:SAIA) in another article and shared Artisan Small Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 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.