North Star Asset Management Inc. reduced its position in shares of Echo Global Logistics Inc. (NASDAQ:ECHO) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 403,940 shares of the company’s stock after selling 5,335 shares during the period. North Star Asset Management Inc. owned 1.38% of Echo Global Logistics worth $9,315,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ECHO. Argent Capital Management LLC increased its stake in Echo Global Logistics by 26.8% in the second quarter. Argent Capital Management LLC now owns 96,125 shares of the company’s stock worth $2,155,000 after buying an additional 20,325 shares during the period. Prudential Financial Inc. increased its position in Echo Global Logistics by 25.3% in the first quarter. Prudential Financial Inc. now owns 74,174 shares of the company’s stock valued at $2,015,000 after buying an additional 14,954 shares during the period. Eagle Asset Management Inc. increased its position in Echo Global Logistics by 5.7% in the second quarter. Eagle Asset Management Inc. now owns 760,478 shares of the company’s stock valued at $17,049,000 after buying an additional 40,850 shares during the period. Rice Hall James & Associates LLC increased its position in Echo Global Logistics by 0.7% in the second quarter. Rice Hall James & Associates LLC now owns 545,345 shares of the company’s stock valued at $12,227,000 after buying an additional 3,557 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Echo Global Logistics by 6.6% in the first quarter. Envestnet Asset Management Inc. now owns 48,146 shares of the company’s stock valued at $1,308,000 after buying an additional 3,001 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

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

Echo Global Logistics Inc. (NASDAQ:ECHO) traded up 1.77% during mid-day trading on Wednesday, reaching $25.85. The company’s stock had a trading volume of 242,489 shares. The firm has a 50-day moving average of $22.72 and a 200 day moving average of $23.48. Echo Global Logistics Inc. has a 1-year low of $18.65 and a 1-year high of $28.49. The firm has a market capitalization of $755.49 million, a price-to-earnings ratio of 122.51 and a beta of 1.30.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, October 26th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.07. Echo Global Logistics had a net margin of 0.37% and a return on equity of 5.40%. The firm had revenue of $460.20 million for the quarter, compared to the consensus estimate of $80.04 million. During the same period in the prior year, the business earned $0.34 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Echo Global Logistics Inc. will post $1.08 earnings per share for the current year.

Several research analysts have recently issued reports on ECHO shares. Zacks Investment Research downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Cowen and Company cut their price target on Echo Global Logistics from $28.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $31.00 price target on shares of Echo Global Logistics in a research note on Friday, July 29th. Morgan Stanley cut their price target on Echo Global Logistics from $34.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Finally, Barrington Research cut their target price on shares of Echo Global Logistics from $31.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Echo Global Logistics presently has a consensus rating of “Buy” and an average target price of $31.00.

In related news, CEO Douglas R. Waggoner sold 34,723 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $26.01, for a total transaction of $903,145.23. Following the completion of the transaction, the chief executive officer now owns 241,863 shares of the company’s stock, valued at $6,290,856.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Douglas R. Waggoner sold 34,822 shares of the firm’s stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $22.23, for a total value of $774,093.06. Following the transaction, the chief executive officer now directly owns 267,627 shares of the company’s stock, valued at approximately $5,949,348.21. The disclosure for this sale can be found here. Corporate 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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