Strs Ohio Cuts Stake in Echo Global Logistics, Inc. (NASDAQ:ECHO)

Strs Ohio trimmed its position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 27,600 shares of the transportation company’s stock after selling 1,000 shares during the quarter. Strs Ohio’s holdings in Echo Global Logistics were worth $866,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Echo Global Logistics by 8.6% in the 4th quarter. BlackRock Inc. now owns 5,106,760 shares of the transportation company’s stock worth $136,962,000 after purchasing an additional 404,289 shares in the last quarter. Kestrel Investment Management Corp bought a new position in shares of Echo Global Logistics during the 4th quarter valued at about $3,601,000. Summit Creek Advisors LLC lifted its holdings in shares of Echo Global Logistics by 32.5% in the 1st quarter. Summit Creek Advisors LLC now owns 494,379 shares of the transportation company’s stock valued at $15,528,000 after acquiring an additional 121,256 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Echo Global Logistics by 80.2% in the 4th quarter. Morgan Stanley now owns 167,790 shares of the transportation company’s stock valued at $4,500,000 after acquiring an additional 74,681 shares during the last quarter. Finally, THB Asset Management bought a new stake in Echo Global Logistics in the fourth quarter worth about $1,364,000. 95.16% of the stock is currently owned by institutional investors.

Echo Global Logistics stock opened at $34.73 on Wednesday. Echo Global Logistics, Inc. has a 12-month low of $14.39 and a 12-month high of $37.65. The stock has a market cap of $925.07 million, a P/E ratio of 144.71, a PEG ratio of 1.12 and a beta of 1.05. The company has a 50-day moving average price of $32.31 and a 200 day moving average price of $29.53. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.37.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, April 28th. The transportation company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.28. The company had revenue of $800.80 million during the quarter, compared to analyst estimates of $722.47 million. Echo Global Logistics had a net margin of 0.28% and a return on equity of 5.13%. Echo Global Logistics’s revenue was up 45.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, analysts forecast that Echo Global Logistics, Inc. will post 0.86 EPS for the current year.

In related news, Director Samuel K. Skinner sold 8,389 shares of the firm’s stock in a transaction that occurred on Monday, March 29th. The shares were sold at an average price of $31.22, for a total value of $261,904.58. Following the sale, the director now owns 48,531 shares of the company’s stock, valued at $1,515,137.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO David B. Menzel sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 2nd. The shares were sold at an average price of $28.65, for a total transaction of $429,750.00. In the last three months, insiders sold 33,389 shares of company stock valued at $1,031,155. Insiders own 2.70% of the company’s stock.

A number of brokerages have recently commented on ECHO. Cowen raised their target price on shares of Echo Global Logistics from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. Morgan Stanley boosted their price target on Echo Global Logistics from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday. Zacks Investment Research upgraded Echo Global Logistics from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, April 7th. Susquehanna Bancshares cut Echo Global Logistics from a “positive” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $32.00 in a research note on Tuesday, January 26th. Finally, Susquehanna cut Echo Global Logistics from a “positive” rating to a “neutral” rating and decreased their price target for the company from $36.00 to $32.00 in a research note on Tuesday, January 26th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Echo Global Logistics has a consensus rating of “Buy” and an average price target of $29.00.

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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