Teachers Retirement System of The State of Kentucky maintained its stake in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,200 shares of the transportation company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Echo Global Logistics were worth $239,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ECHO. Dimensional Fund Advisors LP increased its stake in shares of Echo Global Logistics by 13.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,497,435 shares of the transportation company’s stock valued at $31,970,000 after buying an additional 181,052 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Echo Global Logistics by 8.4% in the first quarter. Vanguard Group Inc. now owns 1,426,941 shares of the transportation company’s stock valued at $30,465,000 after buying an additional 110,145 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Echo Global Logistics by 53.0% in the first quarter. Loomis Sayles & Co. L P now owns 786,219 shares of the transportation company’s stock valued at $16,786,000 after buying an additional 272,321 shares during the last quarter. State Street Corp increased its stake in shares of Echo Global Logistics by 1.2% in the first quarter. State Street Corp now owns 727,918 shares of the transportation company’s stock valued at $15,540,000 after buying an additional 8,351 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of Echo Global Logistics by 6.9% in the first quarter. Stephens Investment Management Group LLC now owns 636,876 shares of the transportation company’s stock valued at $13,597,000 after buying an additional 40,974 shares during the last quarter. 90.74% of the stock is owned by hedge funds and other institutional investors.

Echo Global Logistics, Inc. (NASDAQ:ECHO) traded down 0.36% on Friday, hitting $14.00. 169,217 shares of the stock traded hands. The stock has a 50-day moving average price of $17.72 and a 200 day moving average price of $20.06. The company’s market cap is $399.48 million. Echo Global Logistics, Inc. has a 1-year low of $13.00 and a 1-year high of $28.90.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $470.10 million for the quarter, compared to the consensus estimate of $470.25 million. Echo Global Logistics had a negative net margin of 0.21% and a positive return on equity of 3.22%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. On average, analysts anticipate that Echo Global Logistics, Inc. will post $0.59 EPS for the current fiscal year.

Echo Global Logistics declared that its board has initiated a share buyback program on Monday, May 1st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the transportation company to repurchase up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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Several research analysts have recently weighed in on ECHO shares. Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Cowen and Company reduced their price target on shares of Echo Global Logistics from $25.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, April 27th. BidaskClub cut shares of Echo Global Logistics from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Susquehanna Bancshares Inc upgraded shares of Echo Global Logistics from a “neutral” rating to a “positive” rating in a report on Thursday, April 13th. Finally, William Blair reiterated a “market perform” rating on shares of Echo Global Logistics in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $20.14.

In other Echo Global Logistics news, COO David B. Menzel sold 10,000 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $19.48, for a total transaction of $194,800.00. Following the completion of the sale, the chief operating officer now owns 163,141 shares in the company, valued at approximately $3,177,986.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.10% of the company’s stock.

Echo Global Logistics Company Profile

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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