Goldman Sachs Group Inc. acquired a new stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,637 shares of the transportation company’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Echo Global Logistics by 20.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,807,045 shares of the transportation company’s stock valued at $35,960,000 after purchasing an additional 309,610 shares during the last quarter. Vanguard Group Inc. increased its holdings in Echo Global Logistics by 3.2% in the second quarter. Vanguard Group Inc. now owns 1,472,288 shares of the transportation company’s stock valued at $29,299,000 after purchasing an additional 45,347 shares during the last quarter. Franklin Resources Inc. increased its holdings in Echo Global Logistics by 25.1% in the second quarter. Franklin Resources Inc. now owns 1,393,246 shares of the transportation company’s stock valued at $27,726,000 after purchasing an additional 279,142 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in Echo Global Logistics by 25.3% in the second quarter. Rice Hall James & Associates LLC now owns 776,218 shares of the transportation company’s stock valued at $15,447,000 after purchasing an additional 156,516 shares during the last quarter. Finally, State Street Corp increased its holdings 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 purchasing an additional 8,351 shares during the last quarter. Institutional investors and hedge funds own 87.56% of the company’s stock.

In related news, CFO Kyle Sauers sold 20,000 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $23.92, for a total transaction of $478,400.00. Following the completion of the transaction, the chief financial officer now directly owns 65,919 shares in the company, valued at $1,576,782.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Samuel K. Skinner sold 120,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $23.51, for a total value of $2,821,200.00. Following the transaction, the director now owns 24,346 shares of the company’s stock, valued at $572,374.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,660 shares of company stock valued at $5,299,371. 8.10% of the stock is owned by corporate insiders.

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ECHO has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub downgraded Echo Global Logistics from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Barrington Research reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $18.00) on shares of Echo Global Logistics in a report on Monday, October 30th. Cowen and Company reiterated a “buy” rating and issued a $19.00 price objective on shares of Echo Global Logistics in a report on Friday, September 1st. Finally, UBS AG upped their price objective on 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 issued a hold rating and six have given a buy rating to the stock. Echo Global Logistics presently has a consensus rating of “Hold” and an average price target of $23.90.

Shares of Echo Global Logistics, Inc. (ECHO) opened at $24.00 on Monday. Echo Global Logistics, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $28.90. The stock has a market capitalization of $669.78, a PE ratio of 58.54, a price-to-earnings-growth ratio of 2.78 and a beta of 1.51. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.61.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09. Echo Global Logistics had a positive return on equity of 3.29% and a negative net margin of 0.20%. The company had revenue of $509.50 million during the quarter, compared to the consensus estimate of $473.44 million. During the same period in the prior year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. sell-side analysts predict that Echo Global Logistics, Inc. will post 0.49 EPS for the current fiscal year.

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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