Elk Creek Partners LLC Increases Holdings in Echo Global Logistics, Inc. (ECHO)

Elk Creek Partners LLC raised its position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 50.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 620,013 shares of the transportation company’s stock after buying an additional 207,557 shares during the quarter. Elk Creek Partners LLC owned about 2.22% of Echo Global Logistics worth $11,687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in Echo Global Logistics by 77.3% during the second quarter. State of Alaska Department of Revenue now owns 5,371 shares of the transportation company’s stock valued at $106,000 after buying an additional 2,341 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Echo Global Logistics by 4.2% during the second 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 in the last quarter. SG Americas Securities LLC raised its stake in Echo Global Logistics by 22.5% during the second quarter. SG Americas Securities LLC now owns 6,894 shares of the transportation company’s stock valued at $137,000 after buying an additional 1,266 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Echo Global Logistics by 63.3% during the second quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock valued at $161,000 after buying an additional 3,139 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in Echo Global Logistics during the third quarter valued at approximately $207,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

In related news, COO David B. Menzel sold 30,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the completion of the transaction, the chief operating officer now directly owns 180,322 shares of the company’s stock, valued at approximately $4,426,905.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Douglas R. Waggoner sold 25,160 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $23.91, for a total value of $601,575.60. The disclosure for this sale can be found here. Insiders sold a total of 253,660 shares of company stock valued at $6,035,871 over the last three months. Corporate insiders own 8.10% of the company’s stock.

Several research firms have recently commented on ECHO. Morgan Stanley upped their target price on Echo Global Logistics from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Zacks Investment Research raised Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Cowen reaffirmed a “buy” rating and set a $19.00 target price on shares of Echo Global Logistics in a report on Wednesday, October 4th. ValuEngine raised Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Barrington Research reaffirmed an “outperform” rating and set a $26.00 target price (up from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Echo Global Logistics currently has an average rating of “Hold” and an average price target of $23.90.

Echo Global Logistics, Inc. (NASDAQ:ECHO) opened at $26.85 on Friday. The company has a market capitalization of $749.33, a P/E ratio of 65.49, a PEG ratio of 3.12 and a beta of 1.55. Echo Global Logistics, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $28.90. 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 posted its earnings results on Wednesday, October 25th. The transportation company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.09. The company had revenue of $509.50 million during the quarter, compared to analyst estimates of $473.44 million. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 earnings per share. sell-side analysts predict that Echo Global Logistics, Inc. will post 0.49 EPS for the current fiscal year.

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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.

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

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