Insider Selling: Echo Global Logistics, Inc. (ECHO) CFO Sells $478,400.00 in Stock

Echo Global Logistics, Inc. (NASDAQ:ECHO) CFO Kyle Sauers sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $23.92, for a total transaction of $478,400.00. Following the completion of the transaction, the chief financial officer now directly owns 65,919 shares in the company, valued at $1,576,782.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Echo Global Logistics, Inc. (ECHO) opened at $23.20 on Friday. The firm has a market capitalization of $664.20 million, a PE ratio of 58.05, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.40 and a current ratio of 1.40.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings data 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. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The firm had revenue of $509.50 million during the quarter, compared to analysts’ expectations of $473.44 million. During the same period in the prior year, the company posted $0.25 earnings per share. Echo Global Logistics’s revenue for the quarter was up 10.7% on a year-over-year basis. equities analysts expect that Echo Global Logistics, Inc. will post 0.49 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its holdings in 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 acquiring an additional 250,270 shares during the period. Isthmus Partners LLC boosted its holdings in Echo Global Logistics by 33.0% during the second quarter. Isthmus Partners LLC now owns 36,433 shares of the transportation company’s stock valued at $725,000 after acquiring an additional 9,046 shares during the period. UBS Group AG boosted its holdings in Echo Global Logistics by 252.2% during the first quarter. UBS Group AG now owns 32,239 shares of the transportation company’s stock valued at $688,000 after acquiring an additional 23,085 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Echo Global Logistics by 33.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 217,813 shares of the transportation company’s stock valued at $4,335,000 after acquiring an additional 54,658 shares during the period. Finally, Fenimore Asset Management Inc. boosted its holdings in Echo Global Logistics by 12.2% during the second quarter. Fenimore Asset Management Inc. now owns 396,750 shares of the transportation company’s stock valued at $7,895,000 after acquiring an additional 43,275 shares during the period. Institutional investors own 86.43% of the company’s stock.

A number of research firms have recently weighed in on ECHO. Zacks Investment Research raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating and set a $27.00 price target on the stock in a research note on Wednesday. Barrington Research reaffirmed an “outperform” rating and issued a $26.00 price target (up from $18.00) on shares of Echo Global Logistics in a research note on Monday, October 30th. Macquarie reaffirmed an “outperform” rating and issued a $29.00 price target on shares of Echo Global Logistics in a research note on Monday, July 10th. UBS Group AG (USA) upped their price target on shares of Echo Global Logistics from $13.00 to $19.00 and gave the stock a “sell” rating in a research note on Thursday, October 26th. Finally, Stifel Nicolaus upped their price objective on shares of Echo Global Logistics from $21.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Echo Global Logistics has a consensus rating of “Hold” and an average price target of $23.90.

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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