Dimensional Fund Advisors LP Grows Stake in Echo Global Logistics, Inc. (NASDAQ:ECHO)

Dimensional Fund Advisors LP boosted its holdings in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,984,863 shares of the transportation company’s stock after purchasing an additional 177,818 shares during the quarter. Dimensional Fund Advisors LP owned about 7.11% of Echo Global Logistics worth $37,414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ETRADE Capital Management LLC increased its position in shares of Echo Global Logistics by 1.0% during the 2nd quarter. ETRADE Capital Management LLC now owns 39,327 shares of the transportation company’s stock valued at $783,000 after purchasing an additional 407 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Echo Global Logistics by 0.3% during the 2nd quarter. Principal Financial Group Inc. now owns 208,387 shares of the transportation company’s stock valued at $4,147,000 after purchasing an additional 648 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Echo Global Logistics by 4.2% during the 2nd quarter. Nationwide Fund Advisors now owns 19,921 shares of the transportation company’s stock valued at $396,000 after purchasing an additional 800 shares during the last quarter. Rhumbline Advisers increased its position in shares of Echo Global Logistics by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 54,120 shares of the transportation company’s stock valued at $1,077,000 after purchasing an additional 1,007 shares during the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in Echo Global Logistics by 6.8% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,490 shares of the transportation company’s stock valued at $328,000 after acquiring an additional 1,050 shares during the period. 93.47% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on the company. Stephens restated a “buy” rating and set a $34.00 price objective on shares of Echo Global Logistics in a report on Wednesday, January 10th. Morgan Stanley boosted their price objective on Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Barrington Research reiterated an “outperform” rating and issued a $26.00 target price (up from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Zacks Investment Research cut Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, UBS Group upgraded Echo Global Logistics from a “sell” rating to a “neutral” rating and set a $33.00 target price for the company in a report on Monday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $26.30.

Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) traded down $0.45 during trading hours on Friday, reaching $29.05. The company had a trading volume of 306,917 shares, compared to its average volume of 298,562. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market cap of $810.73, a price-to-earnings ratio of -242.08, a P/E/G ratio of 2.32 and a beta of 1.55. Echo Global Logistics, Inc. has a 12 month low of $13.00 and a 12 month high of $32.95.

In other news, CEO Douglas R. Waggoner sold 25,160 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $23.91, for a total value of $601,575.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO David B. Menzel sold 30,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the completion of the sale, the chief operating officer now owns 180,322 shares in the company, valued at approximately $4,426,905.10. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Echo Global Logistics (NASDAQ:ECHO)

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