The North Star Asset Management Inc. Holds Position in Echo Global Logistics Inc. (ECHO)

The North Star Asset Management Inc. Holds Position in Echo Global Logistics Inc. (ECHO)

North Star Asset Management Inc. maintained its stake in Echo Global Logistics Inc. (NASDAQ:ECHO) during the second quarter, Holdings Channel reports. The firm owned 393,245 shares of the company’s stock at the end of the second quarter. Echo Global Logistics makes up about 1.2% of North Star Asset Management Inc.’s holdings, making the stock its 20th largest position. North Star Asset Management Inc.’s holdings in Echo Global Logistics were worth $10,681,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ECHO. Bank of Montreal Can acquired a new stake in Echo Global Logistics during the second quarter valued at approximately $159,000. 1st Global Advisors Inc. acquired a new stake in Echo Global Logistics during the second quarter valued at approximately $243,000. Palo Capital Inc. increased its stake in Echo Global Logistics by 159.8% in the second quarter. Palo Capital Inc. now owns 19,218 shares of the company’s stock valued at $430,000 after buying an additional 11,821 shares during the period. Summit Creek Advisors LLC increased its stake in Echo Global Logistics by 12.4% in the second quarter. Summit Creek Advisors LLC now owns 789,653 shares of the company’s stock valued at $17,704,000 after buying an additional 87,230 shares during the period. Finally, Eagle Asset Management Inc. increased its stake in 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 period. 84.85% of the stock is currently owned by institutional investors and hedge funds.

Echo Global Logistics Inc. (NASDAQ:ECHO) traded down 0.39% during trading on Friday, reaching $22.71. 244,372 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $24.37 and a 200 day moving average price of $24.18. Echo Global Logistics Inc. has a 52 week low of $16.56 and a 52 week high of $28.49. The firm has a market capitalization of $665.54 million, a price-to-earnings ratio of 92.69 and a beta of 1.30.

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

Several analysts have recently commented on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Echo Global Logistics in a report on Friday, July 29th. Cowen and Company dropped their price objective on shares of Echo Global Logistics from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Morgan Stanley dropped their price objective on shares of Echo Global Logistics from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Finally, Zacks Investment Research downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $30.11.

In other news, CEO Douglas R. Waggoner sold 23,528 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $25.56, for a total transaction of $601,375.68. Following the transaction, the chief executive officer now directly owns 251,217 shares in the company, valued at $6,421,106.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas R. Waggoner sold 46,117 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $25.74, for a total transaction of $1,187,051.58. Following the transaction, the chief executive officer now owns 254,544 shares in the company, valued at $6,551,962.56. The disclosure for this sale can be found here. 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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