Mutual of America Capital Management LLC Invests $1.89 Million in Echo Global Logistics, Inc. (ECHO)

Mutual of America Capital Management LLC bought a new position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 100,100 shares of the transportation company’s stock, valued at approximately $1,887,000. Mutual of America Capital Management LLC owned approximately 0.35% of Echo Global Logistics at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new position in Echo Global Logistics in the second quarter valued at approximately $353,000. North Star Asset Management Inc. lifted its holdings in Echo Global Logistics by 4.2% in the second quarter. North Star Asset Management Inc. now owns 433,452 shares of the transportation company’s stock valued at $8,626,000 after buying an additional 17,352 shares during the period. State Street Corp lifted its holdings in Echo Global Logistics by 2.1% in the second quarter. State Street Corp now owns 743,270 shares of the transportation company’s stock valued at $14,792,000 after buying an additional 15,352 shares during the period. Janus Henderson Group PLC acquired a new position in Echo Global Logistics in the second quarter valued at approximately $14,062,000. Finally, Goldman Sachs Group Inc. acquired a new position in Echo Global Logistics in the second quarter valued at approximately $232,000. Institutional investors own 86.43% of the company’s stock.

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Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a report on Wednesday. Barrington Research restated an “outperform” rating and issued a $26.00 price objective (up from $18.00) on shares of Echo Global Logistics in a report on Monday. Macquarie restated an “outperform” rating and issued a $29.00 price objective on shares of Echo Global Logistics in a report on Monday, July 10th. UBS AG increased their price objective 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. Finally, Stifel Nicolaus increased their price objective on shares of Echo Global Logistics from $21.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.56.

In other news, COO David B. Menzel sold 57,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.91, for a total value of $1,374,825.00. Following the transaction, the chief operating officer now owns 187,822 shares in the company, valued at approximately $4,490,824.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kyle Sauers sold 20,000 shares of the business’s stock in a transaction that occurred on 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 owns 65,919 shares in the company, valued at approximately $1,576,782.48. The disclosure for this sale can be found here. 8.10% of the stock is owned by company insiders.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, October 25th. The transportation company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. Echo Global Logistics had a negative net margin of 0.20% and a positive return on equity of 3.29%. The business had revenue of $509.50 million for the quarter, compared to the consensus estimate of $473.44 million. During the same period last year, the company earned $0.25 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year.

Echo Global Logistics 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.

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

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