Alps Advisors Inc. Takes $894,000 Position in Echo Global Logistics, Inc. (ECHO)

Alps Advisors Inc. acquired a new stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 28,884 shares of the transportation company’s stock, valued at approximately $894,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. grew its holdings in Echo Global Logistics by 13.0% in the 2nd quarter. BlackRock Inc. now owns 4,048,029 shares of the transportation company’s stock valued at $118,405,000 after buying an additional 464,917 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Echo Global Logistics by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,374,061 shares of the transportation company’s stock valued at $69,441,000 after buying an additional 53,996 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in Echo Global Logistics by 1.5% in the 2nd quarter. Rice Hall James & Associates LLC now owns 704,811 shares of the transportation company’s stock valued at $20,616,000 after buying an additional 10,592 shares in the last quarter. Intrinsic Edge Capital Management LLC grew its holdings in Echo Global Logistics by 29.4% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 664,567 shares of the transportation company’s stock valued at $19,439,000 after buying an additional 150,924 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Echo Global Logistics by 6.6% in the 2nd quarter. Northern Trust Corp now owns 629,961 shares of the transportation company’s stock valued at $18,426,000 after buying an additional 38,775 shares in the last quarter. 98.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on ECHO shares. Loop Capital started coverage on Echo Global Logistics in a report on Wednesday, October 17th. They issued a “hold” rating and a $30.00 price objective on the stock. ValuEngine upgraded Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Cowen upped their target price on Echo Global Logistics from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, July 16th. Barrington Research cut their target price on Echo Global Logistics from $37.00 to $33.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Finally, BidaskClub upgraded Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.10.

NASDAQ:ECHO opened at $26.38 on Friday. The firm has a market cap of $744.80 million, a PE ratio of 39.97, a P/E/G ratio of 1.00 and a beta of 1.61. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.55. Echo Global Logistics, Inc. has a fifty-two week low of $23.15 and a fifty-two week high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, October 24th. The transportation company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. The firm had revenue of $644.82 million during the quarter, compared to the consensus estimate of $632.54 million. Echo Global Logistics had a return on equity of 11.25% and a net margin of 1.46%. On average, research analysts expect that Echo Global Logistics, Inc. will post 1.56 earnings per share for the current year.

In other news, CEO Douglas R. Waggoner sold 5,000 shares of the company’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $33.03, for a total transaction of $165,150.00. Following the completion of the sale, the chief executive officer now directly owns 311,532 shares in the company, valued at approximately $10,289,901.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

About Echo Global Logistics

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

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