Echo Global Logistics, Inc. (ECHO) Stake Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 4.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 228,347 shares of the transportation company’s stock after buying an additional 10,534 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Echo Global Logistics were worth $4,305,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Echo Global Logistics by 20.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock worth $35,960,000 after acquiring an additional 309,610 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Echo Global Logistics by 3.2% during the second quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock worth $29,299,000 after acquiring an additional 45,347 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Echo Global Logistics by 25.1% during the second quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock worth $27,726,000 after acquiring an additional 279,142 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of Echo Global Logistics by 24.1% during the third quarter. Stephens Investment Management Group LLC now owns 784,397 shares of the transportation company’s stock worth $14,786,000 after acquiring an additional 152,088 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Echo Global Logistics by 2.1% during the second quarter. State Street Corp now owns 743,270 shares of the transportation company’s stock worth $14,792,000 after acquiring an additional 15,352 shares in the last quarter. Institutional investors and hedge funds own 94.92% of the company’s stock.

Echo Global Logistics, Inc. (NASDAQ:ECHO) opened at $28.90 on Friday. Echo Global Logistics, Inc. has a 1-year low of $13.00 and a 1-year high of $29.00. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $795.37, a PE ratio of -222.31, a price-to-earnings-growth ratio of 2.08 and a beta of 1.55.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.09. Echo Global Logistics had a return on equity of 2.78% and a net margin of 0.47%. The company had revenue of $509.50 million for the quarter, compared to analyst estimates of $473.44 million. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. equities research analysts anticipate that Echo Global Logistics, Inc. will post 0.49 EPS for the current year.

Several analysts recently issued reports on the company. Stephens reiterated a “buy” rating and set a $34.00 price objective on shares of Echo Global Logistics in a report on Wednesday. Zacks Investment Research lowered Echo Global Logistics from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley raised 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. Cowen restated a “buy” rating and set a $19.00 target price on shares of Echo Global Logistics in a report on Wednesday, October 4th. Finally, ValuEngine upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Echo Global Logistics has an average rating of “Hold” and a consensus price target of $24.90.

In other news, COO David B. Menzel sold 30,000 shares of Echo Global Logistics stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $24.55, for a total value of $736,500.00. Following the transaction, the chief operating officer now directly owns 180,322 shares in the company, valued at $4,426,905.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas R. Waggoner sold 25,160 shares of Echo Global Logistics stock in a transaction dated 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. Over the last 90 days, insiders have sold 253,660 shares of company stock worth $6,035,871. Corporate insiders own 8.10% of the company’s stock.

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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.

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

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