Hudson Bay Capital Management Invests in Saia, Inc.

Got story updates? Submit your updates here. ›

Hudson Bay Capital Management LP purchased a new position in shares of Saia, Inc. (NASDAQ:SAIA) during the third quarter, according to a recent SEC filing. The firm bought 31,364 shares of the transportation company's stock, valued at approximately $9,389,000. This represents a 0.12% stake in Saia at the end of the quarter.

Why it matters

The investment by Hudson Bay Capital Management, a prominent hedge fund, in Saia suggests the fund sees growth potential in the transportation company. Saia operates a regional less-than-truckload (LTL) freight network across North America, serving a diverse customer base across retail, manufacturing, automotive, and healthcare industries.

The details

According to the SEC filing, Hudson Bay Capital Management purchased 31,364 shares of Saia during the third quarter. This new position represents a 0.12% ownership stake in the transportation company. Other institutional investors have also been active in Saia, with Stephens Investment Management Group LLC and Voya Investment Management LLC increasing their positions in the third quarter as well.

• Hudson Bay Capital Management purchased the new Saia shares during the third quarter of the year.