Trade Report: The North Star Asset Management Inc. decides to keep it stake in Echo Global Logistics Inc. (ECHO) to the level of $9,176,000

The North Star Asset Management Inc. decides to keep it stake in Echo Global Logistics Inc. (ECHO) to the level of $9,176,000

North Star Asset Management Inc. raised its position in shares of Echo Global Logistics Inc. (NASDAQ:ECHO) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 409,275 shares of the company’s stock after buying an additional 16,030 shares during the period. North Star Asset Management Inc.’s holdings in Echo Global Logistics were worth $9,176,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Prudential Financial Inc. boosted its stake in shares of Echo Global Logistics by 25.3% in the first quarter. Prudential Financial Inc. now owns 74,174 shares of the company’s stock valued at $2,015,000 after buying an additional 14,954 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Echo Global Logistics by 5.7% in the second quarter. Eagle Asset Management Inc. now owns 760,478 shares of the company’s stock valued at $17,049,000 after buying an additional 40,850 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in shares of Echo Global Logistics by 0.7% in the second quarter. Rice Hall James & Associates LLC now owns 545,345 shares of the company’s stock valued at $12,227,000 after buying an additional 3,557 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Echo Global Logistics by 6.6% in the first quarter. Envestnet Asset Management Inc. now owns 48,146 shares of the company’s stock valued at $1,308,000 after buying an additional 3,001 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Echo Global Logistics by 209.4% in the first quarter. Goldman Sachs Group Inc. now owns 44,268 shares of the company’s stock valued at $1,202,000 after buying an additional 29,959 shares during the last quarter. 85.59% of the stock is owned by institutional investors.

Shares of Echo Global Logistics Inc. (NASDAQ:ECHO) traded down 1.57% on Thursday, reaching $22.62. 138,235 shares of the company’s stock traded hands. The firm has a market cap of $662.90 million, a P/E ratio of 92.33 and a beta of 1.30. Echo Global Logistics Inc. has a 12-month low of $16.56 and a 12-month high of $28.49. The stock has a 50-day moving average of $24.06 and a 200 day moving average of $24.05.

Echo Global Logistics (NASDAQ:ECHO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.04. Echo Global Logistics had a return on equity of 5.69% and a net margin of 0.43%. The business earned $443.80 million during the quarter, compared to the consensus estimate of $439.56 million. During the same quarter in the prior year, the firm posted $0.30 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities research analysts expect that Echo Global Logistics Inc. will post $1.23 earnings per share for the current year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a research report on Thursday, October 6th. JPMorgan Chase & Co. reissued a “buy” rating and set a $31.00 price target on shares of Echo Global Logistics in a research report on Friday, July 29th. Morgan Stanley dropped their price target on shares of Echo Global Logistics from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, July 28th. Finally, Cowen and Company dropped their price target on shares of Echo Global Logistics from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.50.

In related news, COO David B. Menzel sold 15,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $25.89, for a total value of $388,350.00. Following the sale, the chief operating officer now owns 147,030 shares in the company, valued at $3,806,606.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas R. Waggoner sold 23,528 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $25.56, for a total transaction of $601,375.68. Following the completion of the sale, the chief executive officer now owns 251,217 shares in the company, valued at approximately $6,421,106.52. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by corporate insiders.

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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