Echo Global Logistics, Inc. (NASDAQ:ECHO) Holdings Reduced by Summit Creek Advisors LLC

Summit Creek Advisors LLC trimmed its stake in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 16.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 309,450 shares of the transportation company’s stock after selling 61,315 shares during the quarter. Summit Creek Advisors LLC owned 1.11% of Echo Global Logistics worth $8,665,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ECHO. Dimensional Fund Advisors LP grew its position in Echo Global Logistics by 9.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,984,863 shares of the transportation company’s stock worth $37,414,000 after buying an additional 177,818 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Echo Global Logistics by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock worth $29,299,000 after purchasing an additional 45,347 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Echo Global Logistics by 25.1% in the 2nd quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock worth $27,726,000 after purchasing an additional 279,142 shares in the last quarter. Granahan Investment Management Inc. MA boosted its holdings in shares of Echo Global Logistics by 1,669.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 840,893 shares of the transportation company’s stock worth $15,851,000 after purchasing an additional 793,366 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Echo Global Logistics by 24.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 784,397 shares of the transportation company’s stock worth $14,786,000 after purchasing an additional 152,088 shares in the last quarter. Institutional investors own 93.34% of the company’s stock.

Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) traded down $0.05 during trading hours on Tuesday, hitting $29.65. The stock had a trading volume of 227,500 shares, compared to its average volume of 284,614. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $827.27, a price-to-earnings ratio of -228.08, a P/E/G ratio of 2.37 and a beta of 1.55. Echo Global Logistics, Inc. has a 12-month low of $13.00 and a 12-month high of $29.75.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.09. The company had revenue of $509.50 million for the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. analysts forecast that Echo Global Logistics, Inc. will post 0.49 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on ECHO shares. Cowen upped their price objective on Echo Global Logistics from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. JPMorgan Chase & Co. upped their price objective on Echo Global Logistics from $19.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Stifel Nicolaus increased their target price on Echo Global Logistics from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research cut Echo Global Logistics from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, UBS Group increased their target price on Echo Global Logistics from $13.00 to $19.00 and gave the company a “sell” rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Echo Global Logistics presently has a consensus rating of “Hold” and an average target price of $24.90.

In other news, COO David B. Menzel sold 57,500 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $23.91, for a total value of $1,374,825.00. Following the transaction, the chief operating officer now directly owns 187,822 shares in the company, valued at approximately $4,490,824.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Samuel K. Skinner sold 120,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $23.51, for a total value of $2,821,200.00. Following the completion of the transaction, the director now owns 24,346 shares in the company, valued at $572,374.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,660 shares of company stock worth $6,035,871. Company insiders own 8.10% of the company’s stock.

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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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