Stephens Inc. AR Sells 1,887 Shares of Echo Global Logistics, Inc. (ECHO)
Stephens Inc. AR reduced its position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 47,137 shares of the company’s stock after selling 1,887 shares during the period. Stephens Inc. AR owned approximately 0.16% of Echo Global Logistics worth $1,087,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ECHO. Argent Capital Management LLC increased its position in Echo Global Logistics by 26.8% in the second quarter. Argent Capital Management LLC now owns 96,125 shares of the company’s stock valued at $2,155,000 after buying an additional 20,325 shares during the period. Rice Hall James & Associates LLC increased its position in Echo Global Logistics by 9.9% in the third quarter. Rice Hall James & Associates LLC now owns 599,503 shares of the company’s stock valued at $13,825,000 after buying an additional 54,158 shares during the period. Tiverton Asset Management LLC increased its position in Echo Global Logistics by 18.2% in the third quarter. Tiverton Asset Management LLC now owns 271,510 shares of the company’s stock valued at $6,261,000 after buying an additional 41,871 shares during the period. Eagle Asset Management Inc. increased its position in Echo Global Logistics by 5.2% in the third quarter. Eagle Asset Management Inc. now owns 800,396 shares of the company’s stock valued at $18,457,000 after buying an additional 39,918 shares during the period. Finally, Mason Street Advisors LLC bought a new position in Echo Global Logistics during the second quarter valued at approximately $110,000. 88.59% of the stock is currently owned by institutional investors.
Echo Global Logistics, Inc. (NASDAQ:ECHO) traded up 4.05% during trading on Friday, reaching $25.70. The company’s stock had a trading volume of 132,608 shares. The stock has a 50-day moving average of $25.98 and a 200 day moving average of $24.27. Echo Global Logistics, Inc. has a one year low of $18.65 and a one year high of $28.90. The firm has a market capitalization of $751.11 million, a P/E ratio of 121.80 and a beta of 1.37.
Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.07. Echo Global Logistics had a return on equity of 5.40% and a net margin of 0.37%. The firm earned $460.20 million during the quarter, compared to the consensus estimate of $80.04 million. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Echo Global Logistics, Inc. will post $1.08 EPS for the current fiscal year.
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Several research analysts have recently commented on ECHO shares. Zacks Investment Research downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Barrington Research decreased their target price on Echo Global Logistics from $31.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, October 31st. Finally, Susquehanna initiated coverage on Echo Global Logistics in a research note on Tuesday, December 20th. They set a “neutral” rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Echo Global Logistics has an average rating of “Buy” and a consensus target price of $29.33.
In other news, CEO Douglas R. Waggoner sold 34,822 shares of Echo Global Logistics stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $22.23, for a total value of $774,093.06. Following the completion of the transaction, the chief executive officer now owns 267,627 shares in the company, valued at approximately $5,949,348.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.10% of the stock is owned by insiders.
About Echo Global Logistics
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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