Dimensional Fund Advisors LP boosted its position in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,984,863 shares of the transportation company’s stock after purchasing an additional 177,818 shares during the period. Dimensional Fund Advisors LP owned about 7.11% of Echo Global Logistics worth $37,414,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC grew its stake in shares of Echo Global Logistics by 22.5% during the 2nd quarter. SG Americas Securities LLC now owns 6,894 shares of the transportation company’s stock valued at $137,000 after buying an additional 1,266 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Echo Global Logistics by 63.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock valued at $161,000 after acquiring an additional 3,139 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Echo Global Logistics by 59.4% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock valued at $194,000 after acquiring an additional 3,830 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Echo Global Logistics in the 3rd quarter worth $207,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Echo Global Logistics in the 2nd quarter worth about $232,000. Institutional investors own 93.43% of the company’s stock.
In related news, COO David B. Menzel sold 57,500 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.91, for a total transaction of $1,374,825.00. Following the completion of the sale, the chief operating officer now owns 187,822 shares of the company’s stock, valued at $4,490,824.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Samuel K. Skinner sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $23.51, for a total value of $2,821,200.00. Following the completion of the transaction, the director now directly owns 24,346 shares of the company’s stock, valued at approximately $572,374.46. The disclosure for this sale can be found here. In the last three months, insiders sold 253,660 shares of company stock valued at $6,035,871. 8.10% of the stock is currently owned by company insiders.
Echo Global Logistics, Inc. (NASDAQ ECHO) opened at $29.70 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. Echo Global Logistics, Inc. has a one year low of $13.00 and a one year high of $29.75. The firm has a market cap of $812.11, a P/E ratio of 70.98, a price-to-earnings-growth ratio of 2.33 and a beta of 1.55.
Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.09. The company had revenue of $509.50 million for the quarter, compared to the consensus estimate of $473.44 million. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. equities research analysts expect that Echo Global Logistics, Inc. will post 0.49 EPS for the current year.
A number of equities research analysts recently weighed in on ECHO shares. Zacks Investment Research downgraded shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Stephens reaffirmed a “buy” rating and issued a $34.00 price target on shares of Echo Global Logistics in a research note on Wednesday, January 10th. Macquarie lowered shares of Echo Global Logistics from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 14th. Stifel Nicolaus restated a “buy” rating and issued a $31.00 price target (up previously from $25.00) on shares of Echo Global Logistics in a research report on Friday, December 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $26.00 price objective (up from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.90.
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Echo Global Logistics Company Profile
Echo Global Logistics, Inc is a provider of technology-enabled transportation and supply chain management solutions. The Company utilizes a technology platform to compile and analyze data from its multi-modal network of transportation providers to facilitate its transportation and logistics services.
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