Echo Global Logistics, Inc. (ECHO) Stake Raised by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 7.0% during the first quarter, Holdings Channel reports. The fund owned 163,155 shares of the transportation company’s stock after buying an additional 10,726 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Echo Global Logistics were worth $3,484,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ECHO. UBS Group AG increased its stake in Echo Global Logistics by 252.2% in the first quarter. UBS Group AG now owns 32,239 shares of the transportation company’s stock valued at $688,000 after buying an additional 23,085 shares during the last quarter. Dimensional Fund Advisors LP increased 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 last quarter. Geode Capital Management LLC increased its stake in Echo Global Logistics by 11.1% in the first quarter. Geode Capital Management LLC now owns 229,608 shares of the transportation company’s stock valued at $4,902,000 after buying an additional 22,911 shares during the last quarter. Vanguard Group Inc. increased 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 last quarter. Finally, Loomis Sayles & Co. L P increased 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 last quarter. Hedge funds and other institutional investors own 90.90% of the company’s stock.

Shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) traded up 0.543% during trading on Friday, hitting $13.875. The stock had a trading volume of 83,478 shares. The company’s market capitalization is $395.91 million. The firm has a 50 day moving average of $16.91 and a 200 day moving average of $19.68. Echo Global Logistics, Inc. has a 1-year low of $13.00 and a 1-year high of $28.90.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $470.25 million. During the same quarter last year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts expect that Echo Global Logistics, Inc. will post $0.59 EPS for the current fiscal year.

Echo Global Logistics announced that its Board of Directors has initiated a share buyback plan on Monday, May 1st that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the transportation company to buy up to 9.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

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Several analysts have issued reports on the company. Morgan Stanley downgraded Echo Global Logistics from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $26.00 to $14.00 in a report on Monday, August 7th. Zacks Investment Research downgraded Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. William Blair reiterated a “market perform” rating on shares of Echo Global Logistics in a report on Friday, July 28th. BidaskClub downgraded Echo Global Logistics from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Finally, Barrington Research dropped 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 analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $20.14.

In other news, COO David B. Menzel sold 10,000 shares of Echo Global Logistics stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $19.48, for a total transaction of $194,800.00. Following the transaction, the chief operating officer now owns 163,141 shares in the company, valued at approximately $3,177,986.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.10% of the company’s stock.

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.

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

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