Paloma Partners Management Co bought a new position in Echo Global Logistics, Inc. (NASDAQ:ECHO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 46,418 shares of the transportation company’s stock, valued at approximately $1,300,000. Paloma Partners Management Co owned about 0.17% of Echo Global Logistics as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ECHO. BlackRock Inc. raised its holdings in Echo Global Logistics by 1.6% during the 4th quarter. BlackRock Inc. now owns 3,529,152 shares of the transportation company’s stock valued at $98,816,000 after acquiring an additional 55,081 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Echo Global Logistics by 9.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,984,863 shares of the transportation company’s stock valued at $37,414,000 after purchasing an additional 177,818 shares in the last quarter. Granahan Investment Management Inc. MA grew its position in Echo Global Logistics by 1,669.3% in the third quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock worth $15,851,000 after acquiring an additional 793,366 shares in the last quarter. Stephens Investment Management Group LLC grew its position in Echo Global Logistics by 24.1% in the third quarter. Stephens Investment Management Group LLC now owns 784,397 shares of the transportation company’s stock worth $14,786,000 after acquiring an additional 152,088 shares in the last quarter. Finally, State Street Corp grew its position in Echo Global Logistics by 2.1% in the second quarter. State Street Corp now owns 743,270 shares of the transportation company’s stock worth $14,792,000 after acquiring an additional 15,352 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. Stephens reiterated a “buy” rating and issued a $34.00 target price on shares of Echo Global Logistics in a research report on Wednesday, January 10th. Cowen restated an “outperform” rating and set a $34.00 price target (up from $23.00) on shares of Echo Global Logistics in a research report on Thursday, February 8th. Credit Suisse Group upped their price target on shares of Echo Global Logistics from $24.50 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Barrington Research upped their price objective on shares of Echo Global Logistics from $26.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. Finally, ValuEngine raised shares of Echo Global Logistics from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Echo Global Logistics presently has an average rating of “Buy” and an average target price of $30.40.
ECHO traded down $1.05 during trading on Friday, hitting $28.00. The company’s stock had a trading volume of 302,338 shares, compared to its average volume of 392,195. The company has a market capitalization of $784.70, a PE ratio of 42.42, a PEG ratio of 1.81 and a beta of 1.44. Echo Global Logistics, Inc. has a one year low of $13.00 and a one year high of $32.95. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.59.
Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The firm had revenue of $547.70 million for the quarter, compared to the consensus estimate of $484.47 million. Echo Global Logistics had a net margin of 0.65% and a return on equity of 5.22%. The company’s revenue was up 34.6% on a year-over-year basis. During the same period last year, the firm earned $0.07 EPS. equities analysts forecast that Echo Global Logistics, Inc. will post 0.88 earnings per share for the current fiscal year.
In other Echo Global Logistics news, COO David B. Menzel sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $28.64, for a total transaction of $1,432,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas R. Waggoner sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $28.03, for a total transaction of $700,750.00. Following the sale, the chief executive officer now directly owns 310,402 shares in the company, valued at approximately $8,700,568.06. The disclosure for this sale can be found here. Insiders sold a total of 110,389 shares of company stock valued at $3,138,901 over the last three months. Corporate insiders own 8.10% of the company’s stock.
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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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