Summit Creek Advisors LLC decreased its holdings in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 337,620 shares of the transportation company’s stock after selling 580 shares during the period. Summit Creek Advisors LLC owned about 1.21% of Echo Global Logistics worth $8,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Echo Global Logistics by 14.9% in the fourth quarter. Geode Capital Management LLC now owns 314,562 shares of the transportation company’s stock worth $6,395,000 after acquiring an additional 40,677 shares in the last quarter. Hancock Whitney Corp purchased a new position in shares of Echo Global Logistics in the fourth quarter worth about $555,000. Thrivent Financial for Lutherans raised its stake in shares of Echo Global Logistics by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 20,112 shares of the transportation company’s stock worth $409,000 after purchasing an additional 1,463 shares during the last quarter. Globeflex Capital L P raised its stake in shares of Echo Global Logistics by 56.0% in the fourth quarter. Globeflex Capital L P now owns 18,271 shares of the transportation company’s stock worth $371,000 after purchasing an additional 6,560 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Echo Global Logistics in the fourth quarter worth about $165,000. Institutional investors and hedge funds own 99.04% of the company’s stock.

Several brokerages have recently issued reports on ECHO. Zacks Investment Research upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Thursday, January 31st. Morgan Stanley upgraded Echo Global Logistics from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $22.00 to $25.00 in a research note on Tuesday, March 5th. Susquehanna Bancshares cut Echo Global Logistics from a “positive” rating to a “neutral” rating in a research note on Wednesday, April 10th. BidaskClub upgraded Echo Global Logistics from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, Cowen restated a “buy” rating and issued a $35.00 price objective on shares of Echo Global Logistics in a research note on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $30.64.

ECHO stock traded down $0.22 during trading on Monday, hitting $24.91. 2,084 shares of the company traded hands, compared to its average volume of 197,640. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.47. The stock has a market cap of $695.50 million, a P/E ratio of 15.31, a P/E/G ratio of 0.90 and a beta of 2.05. Echo Global Logistics, Inc. has a 1 year low of $18.83 and a 1 year high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, February 6th. The transportation company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $587.32 million. Echo Global Logistics had a return on equity of 12.01% and a net margin of 1.18%. Echo Global Logistics’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $0.33 earnings per share. On average, research analysts predict that Echo Global Logistics, Inc. will post 1.6 earnings per share for the current fiscal year.

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Echo Global Logistics Company Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.

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

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