Parametric Portfolio Associates LLC grew its holdings in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 71.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,288 shares of the transportation company’s stock after buying an additional 31,006 shares during the period. Parametric Portfolio Associates LLC owned 0.26% of Echo Global Logistics worth $1,478,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC grew its holdings in shares of Echo Global Logistics by 100.6% in the second quarter. Lazard Asset Management LLC now owns 499,146 shares of the transportation company’s stock valued at $9,933,000 after purchasing an additional 250,270 shares during the period. Isthmus Partners LLC boosted its stake in Echo Global Logistics by 33.0% during the second quarter. Isthmus Partners LLC now owns 36,433 shares of the transportation company’s stock worth $725,000 after buying an additional 9,046 shares during the period. UBS Group AG boosted its stake in Echo Global Logistics by 252.2% during the first quarter. UBS Group AG now owns 32,239 shares of the transportation company’s stock worth $688,000 after buying an additional 23,085 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Echo Global Logistics by 33.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 217,813 shares of the transportation company’s stock worth $4,335,000 after buying an additional 54,658 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Echo Global Logistics by 3.2% during the second quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock worth $29,299,000 after buying an additional 45,347 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.
Several brokerages have recently issued reports on ECHO. ValuEngine raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Cowen and Company reaffirmed a “buy” rating and issued a $19.00 target price on shares of Echo Global Logistics in a report on Wednesday, October 4th. William Blair reaffirmed a “market perform” rating on shares of Echo Global Logistics in a report on Friday, July 28th. BidaskClub cut shares of Echo Global Logistics from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Morgan Stanley cut shares of Echo Global Logistics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $26.00 to $14.00 in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. Echo Global Logistics currently has a consensus rating of “Hold” and a consensus price target of $23.90.
Echo Global Logistics, Inc. (ECHO) opened at $25.45 on Thursday. 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 $706.76, a PE ratio of 61.77, a P/E/G ratio of 2.94 and a beta of 1.51. Echo Global Logistics, Inc. has a one year low of $13.00 and a one year high of $28.90.
Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The business had revenue of $509.50 million during the quarter, compared to analysts’ expectations of $473.44 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. equities analysts expect that Echo Global Logistics, Inc. will post 0.49 earnings per share for the current fiscal year.
In other news, Director Samuel K. Skinner sold 120,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was 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 owns 24,346 shares of the company’s stock, valued at $572,374.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO David B. Menzel sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $24.55, for a total value of $736,500.00. Following the transaction, the chief operating officer now directly owns 180,322 shares of the company’s stock, valued at approximately $4,426,905.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,660 shares of company stock valued at $6,035,871. 8.10% of the stock is owned by company insiders.
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Echo Global Logistics 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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