Stone Ridge Asset Management LLC Takes $222,000 Position in Echo Global Logistics, Inc. (ECHO)

Stone Ridge Asset Management LLC acquired a new stake in Echo Global Logistics, Inc. (NASDAQ:ECHO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,941 shares of the transportation company’s stock, valued at approximately $222,000.

Other institutional investors have also recently bought and sold shares of the company. First Republic Investment Management Inc. purchased a new position in Echo Global Logistics in the fourth quarter valued at approximately $238,000. Teacher Retirement System of Texas purchased a new position in Echo Global Logistics in the fourth quarter valued at approximately $245,000. UBS Asset Management Americas Inc. purchased a new position in Echo Global Logistics in the fourth quarter valued at approximately $266,000. Municipal Employees Retirement System of Michigan lifted its stake in Echo Global Logistics by 59.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,280 shares of the transportation company’s stock valued at $194,000 after purchasing an additional 3,830 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Echo Global Logistics by 61.5% in the third quarter. SG Americas Securities LLC now owns 11,133 shares of the transportation company’s stock valued at $210,000 after purchasing an additional 4,239 shares during the last quarter. Institutional investors and hedge funds own 99.04% of the company’s stock.

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Several equities analysts recently commented on ECHO shares. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price objective (up previously from $25.00) on shares of Echo Global Logistics in a research note on Friday, December 8th. Macquarie cut shares of Echo Global Logistics from an “outperform” rating to a “neutral” rating in a report on Thursday, December 14th. Stephens reissued a “buy” rating and set a $34.00 target price on shares of Echo Global Logistics in a report on Wednesday, January 10th. Zacks Investment Research cut shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, UBS raised shares of Echo Global Logistics from a “sell” rating to a “neutral” rating and set a $33.00 target price on the stock in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $30.40.

In other news, Director Matthew Wagner Ferguson sold 10,389 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $29.18, for a total value of $303,151.02. Following the transaction, the director now owns 17,983 shares of the company’s stock, valued at $524,743.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Douglas R. Waggoner sold 25,000 shares of the company’s stock in a transaction on Friday, March 23rd. The stock was sold at an average price of $28.12, for a total transaction of $703,000.00. Following the completion of the transaction, the chief executive officer now directly owns 328,600 shares in the company, valued at approximately $9,240,232. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,389 shares of company stock worth $3,138,901. Insiders own 8.10% of the company’s stock.

Shares of ECHO stock opened at $29.05 on Friday. 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, Inc. has a 1 year low of $13.00 and a 1 year high of $32.95. The firm has a market cap of $814.11, a price-to-earnings ratio of 43.36, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44.

Echo Global Logistics (NASDAQ:ECHO) last released its quarterly earnings results on Wednesday, February 7th. The transportation company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.14. The firm had revenue of $547.70 million for the quarter, compared to analysts’ expectations of $484.47 million. Echo Global Logistics had a net margin of 0.65% and a return on equity of 5.22%. The business’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. sell-side analysts expect that Echo Global Logistics, Inc. will post 0.88 EPS for the current fiscal year.

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

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