Public Employees Retirement System of Ohio decreased its holdings in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 32.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,324 shares of the transportation company’s stock after selling 26,661 shares during the period. Public Employees Retirement System of Ohio owned 0.19% of Echo Global Logistics worth $1,081,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of Echo Global Logistics by 77.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,371 shares of the transportation company’s stock valued at $106,000 after acquiring an additional 2,341 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Echo Global Logistics by 1.3% in the 1st quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock valued at $120,000 after acquiring an additional 70 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Echo Global Logistics in the 1st quarter valued at about $121,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Echo Global Logistics by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,450 shares of the transportation company’s stock valued at $128,000 after acquiring an additional 260 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Echo Global Logistics by 63.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,099 shares of the transportation company’s stock valued at $161,000 after acquiring an additional 3,139 shares during the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

Shares of Echo Global Logistics, Inc. (ECHO) opened at $23.90 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 $668.39, a PE ratio of 58.42, a price-to-earnings-growth ratio of 2.78 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 announced its quarterly earnings data 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 business had revenue of $509.50 million during the quarter, compared to the consensus estimate 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 last year, the firm earned $0.25 earnings per share. equities analysts forecast that Echo Global Logistics, Inc. will post 0.49 EPS for the current year.

In other news, COO David B. Menzel sold 57,500 shares of Echo Global Logistics stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.91, for a total transaction of $1,374,825.00. Following the completion of the sale, the chief operating officer now owns 187,822 shares of the company’s stock, valued at $4,490,824.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief financial officer now directly owns 65,919 shares of the company’s stock, valued at approximately $1,576,782.48. The disclosure for this sale can be found here. In the last three months, insiders sold 223,660 shares of company stock valued at $5,299,371. 8.10% of the stock is owned by insiders.

A number of research analysts recently commented on ECHO shares. Zacks Investment Research raised shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub downgraded shares of Echo Global Logistics from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Barrington Research reaffirmed an “outperform” rating and issued a $26.00 price target (up previously from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Cowen and Company reaffirmed a “buy” rating and issued a $19.00 price target on shares of Echo Global Logistics in a report on Friday, September 1st. Finally, UBS AG increased their price target on shares of Echo Global Logistics from $13.00 to $19.00 and gave the company a “sell” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Echo Global Logistics currently has a consensus rating of “Hold” and an average target price of $23.90.

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About Echo Global Logistics

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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