North Star Asset Management Inc. maintained its stake in Echo Global Logistics Inc. (NASDAQ:ECHO) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 393,245 shares of the company’s stock at the end of the second quarter. Echo Global Logistics comprises about 1.2% of North Star Asset Management Inc.’s portfolio, making the stock its 20th largest position. North Star Asset Management Inc. owned about 1.30% of Echo Global Logistics worth $10,681,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Bank of Montreal Can bought a new position in shares of Echo Global Logistics during the second quarter worth $159,000. 1st Global Advisors Inc. bought a new position in shares of Echo Global Logistics during the second quarter worth $243,000. Palo Capital Inc. increased its position in shares of Echo Global Logistics by 159.8% in the second quarter. Palo Capital Inc. now owns 19,218 shares of the company’s stock worth $430,000 after buying an additional 11,821 shares during the period. Summit Creek Advisors LLC increased its position in shares of Echo Global Logistics by 12.4% in the second quarter. Summit Creek Advisors LLC now owns 789,653 shares of the company’s stock worth $17,704,000 after buying an additional 87,230 shares during the period. Finally, Eagle Asset Management Inc. increased its position in shares of Echo Global Logistics by 5.7% in the second quarter. Eagle Asset Management Inc. now owns 760,478 shares of the company’s stock worth $17,049,000 after buying an additional 40,850 shares during the period. Hedge funds and other institutional investors own 84.85% of the company’s stock.

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

Echo Global Logistics Inc. (NASDAQ:ECHO) traded down 0.39% during trading on Friday, reaching $22.71. 244,372 shares of the company traded hands. The company has a market capitalization of $665.54 million, a P/E ratio of 92.69 and a beta of 1.30. Echo Global Logistics Inc. has a 52 week low of $16.56 and a 52 week high of $28.49. The firm has a 50-day moving average price of $24.37 and a 200-day moving average price of $24.18.

Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Wednesday, July 27th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.04. The company had revenue of $443.80 million for the quarter, compared to analysts’ expectations of $439.56 million. Echo Global Logistics had a return on equity of 5.69% and a net margin of 0.43%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. Analysts forecast that Echo Global Logistics Inc. will post $1.23 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on ECHO. JPMorgan Chase & Co. restated a “buy” rating and set a $31.00 price objective on shares of Echo Global Logistics in a research report on Friday, July 29th. Cowen and Company decreased their price target on shares of Echo Global Logistics from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Morgan Stanley decreased their price target on shares of Echo Global Logistics from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, July 28th. Finally, Zacks Investment Research downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.11.

In other Echo Global Logistics news, CEO Douglas R. Waggoner sold 46,117 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $25.74, for a total transaction of $1,187,051.58. Following the sale, the chief executive officer now owns 254,544 shares of the company’s stock, valued at approximately $6,551,962.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas R. Waggoner sold 34,723 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $26.01, for a total transaction of $903,145.23. Following the completion of the sale, the chief executive officer now directly owns 241,863 shares in the company, valued at $6,290,856.63. The disclosure for this sale can be found here. Company insiders own 8.10% of the company’s stock.

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.

5 Day Chart for NASDAQ:ECHO

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