Stephens Investment Management Group LLC Has $12.58 Million Stake in Echo Global Logistics, Inc. (ECHO)

Stephens Investment Management Group LLC trimmed its stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 632,309 shares of the transportation company’s stock after selling 4,567 shares during the quarter. Stephens Investment Management Group LLC owned approximately 2.22% of Echo Global Logistics worth $12,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in shares of Echo Global Logistics by 1.3% in the first quarter. SG Americas Securities LLC now owns 5,628 shares of the transportation company’s stock worth $120,000 after acquiring an additional 70 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Echo Global Logistics by 0.7% in the first quarter. Arizona State Retirement System now owns 14,264 shares of the transportation company’s stock worth $305,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Echo Global Logistics by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the transportation company’s stock worth $237,000 after acquiring an additional 100 shares during the last quarter. Nicolet Bankshares Inc. raised its holdings in shares of Echo Global Logistics by 1.4% in the second quarter. Nicolet Bankshares Inc. now owns 11,005 shares of the transportation company’s stock worth $219,000 after acquiring an additional 150 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in Echo Global Logistics by 1.1% in the second quarter. Texas Permanent School Fund now owns 20,003 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 214 shares during the last quarter. 87.50% of the stock is owned by institutional investors.

Several research firms recently commented on ECHO. ValuEngine upgraded Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research lowered Echo Global Logistics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $18.00 target price on shares of Echo Global Logistics in a research note on Tuesday. Credit Suisse Group lowered Echo Global Logistics from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $14.00 in a research note on Monday, July 31st. Finally, UBS AG lowered Echo Global Logistics from a “neutral” rating to a “sell” rating and dropped their target price for the company from $22.00 to $13.00 in a research note on Friday, July 28th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $19.38.

Shares of Echo Global Logistics, Inc. (ECHO) remained flat at $16.05 during midday trading on Wednesday. The stock had a trading volume of 82,451 shares. The company has a 50-day moving average of $14.77 and a 200-day moving average of $18.57. The company’s market capitalization is $457.97 million. 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 posted its earnings results 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 company 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 business earned $0.33 earnings per share. Echo Global Logistics’s quarterly revenue 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.

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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.

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

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