12,594 Shares in Echo Global Logistics, Inc. (ECHO) Purchased by USA Financial Portformulas Corp

USA Financial Portformulas Corp purchased a new position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) in the third quarter, HoldingsChannel reports. The fund purchased 12,594 shares of the transportation company’s stock, valued at approximately $368,000.

Other institutional investors have also recently modified their holdings of the company. Laurion Capital Management LP increased its position in Echo Global Logistics by 89.6% during the 2nd quarter. Laurion Capital Management LP now owns 23,915 shares of the transportation company’s stock worth $700,000 after purchasing an additional 11,299 shares in the last quarter. Rhumbline Advisers increased its position in Echo Global Logistics by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 65,984 shares of the transportation company’s stock worth $1,930,000 after purchasing an additional 2,376 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Echo Global Logistics during the 2nd quarter worth approximately $401,000. Principal Financial Group Inc. increased its position in Echo Global Logistics by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 201,920 shares of the transportation company’s stock worth $5,573,000 after purchasing an additional 5,611 shares in the last quarter. Finally, Pinebridge Investments L.P. increased its position in Echo Global Logistics by 5.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 46,078 shares of the transportation company’s stock worth $1,348,000 after purchasing an additional 2,335 shares in the last quarter. 98.93% of the stock is owned by institutional investors.

Shares of NASDAQ ECHO opened at $26.38 on Friday. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.55. Echo Global Logistics, Inc. has a 52-week low of $23.15 and a 52-week high of $36.75. The company has a market capitalization of $753.07 million, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.84.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. Echo Global Logistics had a net margin of 1.46% and a return on equity of 11.25%. The firm had revenue of $644.82 million during the quarter, compared to analysts’ expectations of $632.54 million. As a group, research analysts expect that Echo Global Logistics, Inc. will post 1.56 earnings per share for the current year.

In other Echo Global Logistics news, CEO Douglas R. Waggoner sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $33.03, for a total value of $165,150.00. Following the completion of the transaction, the chief executive officer now directly owns 311,532 shares in the company, valued at approximately $10,289,901.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.20% of the company’s stock.

A number of equities analysts recently issued reports on ECHO shares. TheStreet upgraded shares of Echo Global Logistics from a “c+” rating to a “b-” rating in a research report on Friday, August 10th. Barrington Research set a $37.00 price objective on shares of Echo Global Logistics and gave the stock a “buy” rating in a research report on Wednesday, July 25th. ValuEngine upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. BidaskClub upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus upped their price objective on shares of Echo Global Logistics from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Echo Global Logistics presently has an average rating of “Hold” and a consensus price target of $33.10.

Echo Global Logistics Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

Read More: Market Capitalization and Individual Investors

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

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