Public Employees Retirement System of Ohio cut its position in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 13.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 80,985 shares of the transportation company’s stock after selling 12,458 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.28% of Echo Global Logistics worth $1,729,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Echo Global Logistics by 13.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,497,435 shares of the transportation company’s stock valued at $31,970,000 after buying an additional 181,052 shares during the period. Vanguard Group Inc. raised its stake in Echo Global Logistics by 8.4% in the first quarter. Vanguard Group Inc. now owns 1,426,941 shares of the transportation company’s stock valued at $30,465,000 after buying an additional 110,145 shares during the period. Loomis Sayles & Co. L P raised its stake in Echo Global Logistics by 53.0% in the first quarter. Loomis Sayles & Co. L P now owns 786,219 shares of the transportation company’s stock valued at $16,786,000 after buying an additional 272,321 shares during the period. State Street Corp raised its stake in Echo Global Logistics by 1.2% in the first quarter. State Street Corp now owns 727,918 shares of the transportation company’s stock valued at $15,540,000 after buying an additional 8,351 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in Echo Global Logistics by 6.9% in the first quarter. Stephens Investment Management Group LLC now owns 636,876 shares of the transportation company’s stock valued at $13,597,000 after buying an additional 40,974 shares during the period. 90.90% of the stock is owned by institutional investors.

Shares of Echo Global Logistics, Inc. (NASDAQ ECHO) traded up 1.45% on Friday, reaching $14.00. The company had a trading volume of 557,118 shares. The firm has a 50-day moving average price of $16.75 and a 200 day moving average price of $19.61. Echo Global Logistics, Inc. has a 1-year low of $13.00 and a 1-year high of $28.90. The firm’s market capitalization is $399.48 million.

Echo Global Logistics (NASDAQ:ECHO) last released its earnings results on Thursday, July 27th. The transportation company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $470.10 million during the quarter, compared to analysts’ expectations of $470.25 million. Echo Global Logistics had a positive return on equity of 3.22% and a negative net margin of 0.21%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. Equities research analysts predict that Echo Global Logistics, Inc. will post $0.59 earnings per share for the current year.

Echo Global Logistics announced that its Board of Directors has initiated a stock buyback plan on Monday, May 1st that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the transportation company to purchase up to 9.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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A number of research firms have recently issued reports on ECHO. Macquarie restated an “outperform” rating and issued a $29.00 price target on shares of Echo Global Logistics in a research report on Monday, July 10th. Cowen and Company dropped their price target on Echo Global Logistics from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, April 27th. Zacks Investment Research upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Stifel Nicolaus restated a “buy” rating on shares of Echo Global Logistics in a research report on Wednesday, July 19th. Finally, BidaskClub lowered Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Echo Global Logistics currently has a consensus rating of “Hold” and an average target price of $20.14.

In other Echo Global Logistics news, COO David B. Menzel sold 10,000 shares of Echo Global Logistics stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $19.48, for a total value of $194,800.00. Following the completion of the sale, the chief operating officer now directly owns 163,141 shares of the company’s stock, valued at approximately $3,177,986.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.10% of the stock is currently owned by insiders.

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.

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

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