Echo Global Logistics, Inc. (ECHO) Stake Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,559 shares of the transportation company’s stock after selling 4,159 shares during the period. Victory Capital Management Inc. owned 0.25% of Echo Global Logistics worth $1,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its holdings in Echo Global Logistics by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the transportation company’s stock worth $223,000 after purchasing an additional 100 shares in the last quarter. Nicolet Bankshares Inc. raised its holdings in Echo Global Logistics by 1.4% during the second quarter. Nicolet Bankshares Inc. now owns 11,005 shares of the transportation company’s stock worth $219,000 after purchasing an additional 150 shares in the last quarter. Texas Permanent School Fund raised its holdings in Echo Global Logistics by 1.1% during the second quarter. Texas Permanent School Fund now owns 20,003 shares of the transportation company’s stock worth $398,000 after purchasing an additional 214 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its holdings 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 worth $128,000 after purchasing an additional 260 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its holdings in Echo Global Logistics by 1.0% during the second quarter. ETRADE Capital Management LLC now owns 39,327 shares of the transportation company’s stock worth $783,000 after purchasing an additional 407 shares in the last quarter. 87.56% of the stock is currently owned by institutional investors.

ECHO has been the topic of several recent analyst reports. Cowen and Company reissued a “buy” rating and set a $19.00 target price on shares of Echo Global Logistics in a report on Friday, September 1st. Morgan Stanley boosted their target price on Echo Global Logistics from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Zacks Investment Research cut Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Barrington Research reissued an “outperform” rating and set a $26.00 target price (up previously from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Finally, UBS AG cut Echo Global Logistics from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $22.00 to $13.00 in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $23.90.

In other Echo Global Logistics news, CFO Kyle Sauers sold 20,000 shares of Echo Global Logistics stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $23.92, for a total transaction of $478,400.00. Following the transaction, the chief financial officer now directly owns 65,919 shares in the company, valued at approximately $1,576,782.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO David B. Menzel sold 30,000 shares of Echo Global Logistics stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $24.55, for a total transaction of $736,500.00. Following the transaction, the chief operating officer now owns 180,322 shares in the company, valued at $4,426,905.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,660 shares of company stock worth $6,035,871. 8.10% of the stock is currently owned by company insiders.

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Echo Global Logistics, Inc. (NASDAQ:ECHO) opened at $25.45 on Thursday. 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 stock has a market cap of $706.76, a P/E ratio of 61.77, a price-to-earnings-growth ratio of 2.94 and a beta of 1.51. Echo Global Logistics, Inc. has a 12-month low of $13.00 and a 12-month high of $28.90.

Echo Global Logistics (NASDAQ:ECHO) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. The firm had revenue of $509.50 million for the quarter, compared to analyst estimates of $473.44 million. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. equities analysts forecast that Echo Global Logistics, Inc. will post 0.49 EPS for the current year.

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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