Hood River Capital Management LLC Purchases Shares of 322,975 Echo Global Logistics, Inc. (ECHO)

Hood River Capital Management LLC purchased a new position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 322,975 shares of the transportation company’s stock, valued at approximately $9,043,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its position in shares of Echo Global Logistics by 59.4% during the third quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock worth $194,000 after purchasing an additional 3,830 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Echo Global Logistics during the third quarter worth approximately $207,000. SG Americas Securities LLC increased its position in shares of Echo Global Logistics by 61.5% during the third quarter. SG Americas Securities LLC now owns 11,133 shares of the transportation company’s stock worth $210,000 after purchasing an additional 4,239 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Echo Global Logistics during the second quarter worth approximately $232,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Echo Global Logistics during the fourth quarter worth approximately $245,000. Hedge funds and other institutional investors own 93.65% of the company’s stock.

In other news, COO David B. Menzel sold 30,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now 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 SEC, which is accessible through the SEC website. 8.10% of the stock is owned by corporate insiders.

Several analysts recently commented on ECHO shares. Morgan Stanley boosted their price target on Echo Global Logistics from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Cowen upped their target price on Echo Global Logistics from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Stifel Nicolaus restated a “buy” rating and issued a $31.00 target price (up from $25.00) on shares of Echo Global Logistics in a report on Friday, December 8th. Zacks Investment Research cut Echo Global Logistics from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Barrington Research restated an “outperform” rating and issued a $26.00 target price (up from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $29.90.

Shares of Echo Global Logistics, Inc. (ECHO) opened at $28.45 on Monday. The company has a quick ratio of 1.40, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $793.97, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 2.27 and a beta of 1.55. Echo Global Logistics, Inc. has a twelve month low of $13.00 and a twelve month high of $32.95.

Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, February 7th. The transportation company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.14. The company had revenue of $547.70 million during the quarter, compared to analysts’ expectations of $484.47 million. Echo Global Logistics had a return on equity of 5.22% and a net margin of 0.65%. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. equities research analysts anticipate that Echo Global Logistics, Inc. will post 0.72 earnings per share for the current year.

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Echo Global Logistics Company 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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