Vanguard Group Inc. boosted its stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 3.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,472,288 shares of the transportation company’s stock after buying an additional 45,347 shares during the period. Vanguard Group Inc. owned approximately 5.16% of Echo Global Logistics worth $29,299,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in Echo Global Logistics by 1.3% in the 1st quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock valued at $120,000 after buying an additional 70 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Echo Global Logistics by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the transportation company’s stock valued at $223,000 after buying an additional 100 shares during the last quarter. Nicolet Bankshares Inc. grew its stake in Echo Global Logistics by 1.4% in the 2nd quarter. Nicolet Bankshares Inc. now owns 11,005 shares of the transportation company’s stock valued at $219,000 after buying an additional 150 shares during the last quarter. Texas Permanent School Fund grew its stake in Echo Global Logistics by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 20,003 shares of the transportation company’s stock valued at $398,000 after buying an additional 214 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in Echo Global Logistics by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock valued at $128,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 90.86% of the company’s stock.

In related news, COO David B. Menzel sold 57,500 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.91, for a total transaction of $1,374,825.00. Following the sale, the chief operating officer now owns 187,822 shares in the company, valued at approximately $4,490,824.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $2,821,200.00. Following the sale, the director now owns 24,346 shares in the company, valued at approximately $572,374.46. The disclosure for this sale can be found here. Insiders have sold a total of 223,660 shares of company stock worth $5,299,371 in the last quarter. 8.10% of the stock is currently owned by company insiders.

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Echo Global Logistics, Inc. (ECHO) opened at $23.85 on Friday. Echo Global Logistics, Inc. has a 52-week low of $13.00 and a 52-week high of $28.90. The stock has a market cap of $665.61, a P/E ratio of 58.17, a price-to-earnings-growth ratio of 2.77 and a beta of 1.51. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.09. The firm had revenue of $509.50 million for the quarter, compared to analyst estimates of $473.44 million. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. sell-side analysts expect that Echo Global Logistics, Inc. will post 0.49 earnings per share for the current year.

A number of brokerages recently commented on ECHO. Credit Suisse Group upped their price target on shares of Echo Global Logistics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Cowen and Company reiterated a “buy” rating and issued a $19.00 price target on shares of Echo Global Logistics in a research note on Wednesday, October 4th. ValuEngine upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $18.00 target price on shares of Echo Global Logistics in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $23.90.

Echo Global Logistics 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.

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

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