BNP Paribas Arbitrage SA grew its position in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 67.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,555 shares of the transportation company’s stock after purchasing an additional 5,456 shares during the period. BNP Paribas Arbitrage SA’s holdings in Echo Global Logistics were worth $256,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Municipal Employees Retirement System of Michigan boosted its stake in shares of Echo Global Logistics by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock worth $128,000 after acquiring an additional 260 shares in the last quarter. SG Americas Securities LLC boosted its stake in Echo Global Logistics by 22.5% during the 2nd quarter. SG Americas Securities LLC now owns 6,894 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 1,266 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Echo Global Logistics during the 3rd quarter valued at approximately $207,000. Louisiana State Employees Retirement System boosted its stake in Echo Global Logistics by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the transportation company’s stock valued at $223,000 after purchasing an additional 100 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in Echo Global Logistics during the 2nd quarter valued at approximately $232,000. 95.08% of the stock is currently owned by institutional investors.

In other news, Director Samuel K. Skinner sold 120,000 shares of the stock in a transaction that occurred 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 directly owns 24,346 shares of the company’s stock, valued at approximately $572,374.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kyle Sauers sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $23.92, for a total value of $478,400.00. Following the completion of the transaction, the chief financial officer now directly owns 65,919 shares of the company’s stock, valued at $1,576,782.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,660 shares of company stock valued at $6,035,871. 8.10% of the stock is currently owned by insiders.

Shares of Echo Global Logistics, Inc. (NASDAQ ECHO) opened at $28.10 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. Echo Global Logistics, Inc. has a 52-week low of $13.00 and a 52-week high of $28.50. The company has a market capitalization of $783.51, a P/E ratio of 67.93, a price-to-earnings-growth ratio of 3.23 and a beta of 1.55.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.27 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 company had revenue of $509.50 million during the quarter, compared to the consensus estimate of $473.44 million. During the same quarter last year, the company earned $0.25 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. sell-side analysts expect that Echo Global Logistics, Inc. will post 0.49 earnings per share for the current fiscal year.

Several analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $31.00 target price (up previously from $25.00) on shares of Echo Global Logistics in a research note on Friday, December 8th. Cowen restated a “buy” rating and set a $19.00 target price on shares of Echo Global Logistics in a research note on Wednesday, October 4th. ValuEngine upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. UBS raised their price objective on Echo Global Logistics from $13.00 to $19.00 and gave the stock a “sell” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 price objective for the company in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.50.

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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.

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

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