Schwab Charles Investment Management Inc. decreased its stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,280 shares of the transportation company’s stock after selling 6,067 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.80% of Echo Global Logistics worth $6,224,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of ECHO. Municipal Employees Retirement System of Michigan raised its holdings in Echo Global Logistics by 59.4% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock worth $194,000 after purchasing an additional 3,830 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Echo Global Logistics in the 3rd quarter worth about $207,000. SG Americas Securities LLC raised its holdings in Echo Global Logistics by 61.5% in the 3rd quarter. SG Americas Securities LLC now owns 11,133 shares of the transportation company’s stock worth $210,000 after purchasing an additional 4,239 shares during the period. Goldman Sachs Group Inc. acquired a new position in Echo Global Logistics in the 2nd quarter worth about $232,000. Finally, BNP Paribas Arbitrage SA raised its holdings in Echo Global Logistics by 67.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,555 shares of the transportation company’s stock worth $256,000 after purchasing an additional 5,456 shares during the period. Hedge funds and other institutional investors own 99.04% of the company’s stock.
In other Echo Global Logistics news, Director Matthew Wagner Ferguson sold 10,389 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $29.18, for a total transaction of $303,151.02. Following the completion of the transaction, the director now owns 17,983 shares of the company’s stock, valued at $524,743.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David B. Menzel sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $28.64, for a total value of $1,432,000.00. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.
Echo Global Logistics, Inc. (ECHO) opened at $26.65 on Tuesday. Echo Global Logistics, Inc. has a fifty-two week low of $13.00 and a fifty-two week high of $32.95. The company has a market capitalization of $753.86, a P/E ratio of 40.15, a price-to-earnings-growth ratio of 1.74 and a beta of 1.58. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.59.
Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, February 7th. The transportation company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.14. Echo Global Logistics had a return on equity of 5.22% and a net margin of 0.65%. The business had revenue of $547.70 million during the quarter, compared to analysts’ expectations of $484.47 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The business’s revenue was up 34.6% compared to the same quarter last year. equities research analysts expect that Echo Global Logistics, Inc. will post 0.88 EPS for the current fiscal year.
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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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