State Street Corp raised its holdings in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 743,270 shares of the transportation company’s stock after acquiring an additional 15,352 shares during the period. State Street Corp owned about 2.60% of Echo Global Logistics worth $14,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC purchased a new stake in shares of Echo Global Logistics during the second quarter valued at approximately $14,062,000. Dimensional Fund Advisors LP boosted its stake in shares of Echo Global Logistics by 20.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock valued at $35,960,000 after purchasing an additional 309,610 shares during the period. Franklin Resources Inc. boosted its stake in shares of Echo Global Logistics by 25.1% during the second quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock valued at $27,726,000 after purchasing an additional 279,142 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Echo Global Logistics by 100.6% during 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. Finally, Northern Trust Corp boosted its stake in shares of Echo Global Logistics by 51.7% during the second quarter. Northern Trust Corp now owns 623,201 shares of the transportation company’s stock valued at $12,401,000 after purchasing an additional 212,341 shares during the period. Institutional investors and hedge funds own 87.56% of the company’s stock.

Echo Global Logistics, Inc. (NASDAQ ECHO) opened at $25.45 on Thursday. Echo Global Logistics, Inc. has a twelve month low of $13.00 and a twelve month high of $28.90. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $706.76, a price-to-earnings ratio of 61.77, a PEG ratio of 2.94 and a beta of 1.51.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Wednesday, October 25th. The transportation company reported $0.27 EPS for the quarter, topping the 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 period last year, the company earned $0.25 EPS. Echo Global Logistics’s revenue for the quarter was up 10.7% on a year-over-year basis. sell-side analysts anticipate that Echo Global Logistics, Inc. will post 0.49 EPS for the current fiscal year.

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ECHO has been the subject of a number of analyst reports. UBS AG lowered Echo Global Logistics from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $22.00 to $13.00 in a research note on Friday, July 28th. ValuEngine raised Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Credit Suisse Group lowered Echo Global Logistics from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $23.00 to $14.00 in a research note on Monday, July 31st. Barrington Research dropped their price target on Echo Global Logistics from $28.00 to $18.00 and set an “outperform” rating for the company in a research note on Monday, July 31st. Finally, BidaskClub lowered Echo Global Logistics from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Two 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. Echo Global Logistics currently has a consensus rating of “Hold” and an average price target of $23.90.

In other Echo Global Logistics news, Director Samuel K. Skinner sold 120,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $23.51, for a total transaction of $2,821,200.00. Following the completion of the sale, the director now directly owns 24,346 shares in the company, valued at approximately $572,374.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David B. Menzel sold 57,500 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.91, for a total value of $1,374,825.00. Following the sale, the chief operating officer now owns 187,822 shares of the company’s stock, valued at $4,490,824.02. The disclosure for this sale can be found here. Insiders sold a total of 253,660 shares of company stock valued at $6,035,871 over the last quarter. 8.10% of the stock is owned by corporate 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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Institutional Ownership by Quarter for Echo Global Logistics (NASDAQ:ECHO)

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