Trexquant Investment LP purchased a new stake in Echo Global Logistics (NASDAQ:ECHO) during the first quarter, HoldingsChannel reports. The firm purchased 22,911 shares of the transportation company’s stock, valued at approximately $632,000.
Several other hedge funds also recently bought and sold shares of the company. We Are One Seven LLC acquired a new position in shares of Echo Global Logistics in the 4th quarter valued at $171,000. Stone Ridge Asset Management LLC acquired a new position in shares of Echo Global Logistics in the 4th quarter valued at $222,000. Rhumbline Advisers lifted its stake in shares of Echo Global Logistics by 15.2% in the 4th quarter. Rhumbline Advisers now owns 63,305 shares of the transportation company’s stock valued at $1,773,000 after purchasing an additional 8,345 shares during the period. First Republic Investment Management Inc. acquired a new position in shares of Echo Global Logistics in the 4th quarter valued at $238,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Echo Global Logistics in the 4th quarter valued at $245,000. 98.24% of the stock is currently owned by institutional investors.
In other Echo Global Logistics news, CFO Kyle Sauers sold 10,000 shares of Echo Global Logistics stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $28.16, for a total value of $281,600.00. Following the sale, the chief financial officer now owns 70,287 shares of the company’s stock, valued at approximately $1,979,281.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David B. Menzel sold 50,000 shares of Echo Global Logistics stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $27.92, for a total value of $1,396,000.00. Following the completion of the sale, the chief operating officer now directly owns 217,334 shares in the company, valued at approximately $6,067,965.28. The disclosure for this sale can be found here. Insiders sold a total of 165,200 shares of company stock worth $4,727,406 in the last three months. Company insiders own 8.10% of the company’s stock.
A number of research firms have recently weighed in on ECHO. Zacks Investment Research downgraded Echo Global Logistics from a “buy” rating to a “hold” rating in a research note on Tuesday, April 10th. Cowen reaffirmed an “outperform” rating and set a $34.00 price objective (up previously from $23.00) on shares of Echo Global Logistics in a research note on Thursday, February 8th. Credit Suisse Group raised their price objective on Echo Global Logistics from $24.50 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Barrington Research raised their price objective on Echo Global Logistics from $26.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. Finally, Stephens set a $40.00 price objective on Echo Global Logistics and gave the stock a “buy” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.30.
Shares of Echo Global Logistics opened at $27.50 on Friday, MarketBeat.com reports. The firm has a market cap of $775.94 million, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 1.35 and a beta of 1.49. Echo Global Logistics has a 12 month low of $13.00 and a 12 month high of $32.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.48 and a current ratio of 1.48.
Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data on Wednesday, April 25th. The transportation company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.10. The business had revenue of $577.10 million for the quarter, compared to the consensus estimate of $538.90 million. Echo Global Logistics had a return on equity of 7.50% and a net margin of 0.96%. The firm’s revenue was up 38.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. analysts expect that Echo Global Logistics will post 1.15 EPS for the current year.
Echo Global Logistics Company Profile
Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.
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