Capstone Asset Management Co. lowered its stake in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,170 shares of the transportation company’s stock after selling 560 shares during the period. Capstone Asset Management Co.’s holdings in Echo Global Logistics were worth $202,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in ECHO. SG Americas Securities LLC increased its stake in Echo Global Logistics by 1.3% in the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock valued at $120,000 after buying an additional 70 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in Echo Global Logistics during the first quarter valued at $121,000. Mason Street Advisors LLC increased its stake in Echo Global Logistics by 6.5% in the first quarter. Mason Street Advisors LLC now owns 6,391 shares of the transportation company’s stock valued at $136,000 after buying an additional 388 shares during the period. Atria Investments LLC increased its stake in Echo Global Logistics by 5.0% in the first quarter. Atria Investments LLC now owns 10,461 shares of the transportation company’s stock valued at $223,000 after buying an additional 496 shares during the period. Finally, Nicolet Bankshares Inc. increased its stake in Echo Global Logistics by 6.4% in the first quarter. Nicolet Bankshares Inc. now owns 10,855 shares of the transportation company’s stock valued at $232,000 after buying an additional 650 shares during the period. 90.90% of the stock is currently owned by institutional investors.

Shares of Echo Global Logistics, Inc. (NASDAQ ECHO) traded up 1.7993% on Tuesday, reaching $14.1501. The company’s stock had a trading volume of 97,144 shares. The firm’s market cap is $403.76 million. Echo Global Logistics, Inc. has a 12 month low of $13.00 and a 12 month high of $28.90. The stock has a 50 day moving average of $16.58 and a 200-day moving average of $19.47.

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

Echo Global Logistics announced that its board has authorized a share buyback program on Monday, May 1st that permits the company to buyback $50.00 million in shares. This buyback authorization permits the transportation company to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: “Capstone Asset Management Co. Sells 560 Shares of Echo Global Logistics, Inc. (ECHO)” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another website, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/22/capstone-asset-management-co-sells-560-shares-of-echo-global-logistics-inc-echo.html.

Several equities research analysts recently weighed in on the company. ValuEngine raised Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Credit Suisse Group downgraded Echo Global Logistics from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $23.00 to $14.00 in a report on Monday, July 31st. UBS AG downgraded Echo Global Logistics from a “neutral” rating to a “sell” rating and cut their target price for the stock from $22.00 to $13.00 in a report on Friday, July 28th. Finally, Barrington Research cut their target price on Echo Global Logistics from $28.00 to $18.00 and set an “outperform” rating on the stock in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.14.

In other Echo Global Logistics news, COO David B. Menzel sold 10,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $19.48, for a total transaction of $194,800.00. Following the completion of the sale, the chief operating officer now directly owns 163,141 shares in the company, valued at $3,177,986.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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.

Want to see what other hedge funds are holding ECHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Echo Global Logistics, Inc. (NASDAQ:ECHO).

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

Receive News & Stock Ratings for Echo Global Logistics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics Inc. and related stocks with our FREE daily email newsletter.