Alliancebernstein L.P. Has $2.60 Million Holdings in Echo Global Logistics, Inc. (ECHO)

Alliancebernstein L.P. grew its position in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 235.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,730 shares of the transportation company’s stock after purchasing an additional 65,110 shares during the quarter. Alliancebernstein L.P. owned about 0.33% of Echo Global Logistics worth $2,596,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bogle Investment Management L P DE bought a new position in Echo Global Logistics during the 4th quarter worth approximately $6,412,000. Next Century Growth Investors LLC increased its stake in shares of Echo Global Logistics by 941.3% in the 4th quarter. Next Century Growth Investors LLC now owns 624,758 shares of the transportation company’s stock valued at $17,493,000 after acquiring an additional 564,758 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Echo Global Logistics by 36.6% in the 4th quarter. Kennedy Capital Management Inc. now owns 294,901 shares of the transportation company’s stock valued at $8,257,000 after acquiring an additional 79,082 shares in the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Echo Global Logistics in the 4th quarter valued at $238,000. Finally, UBS Asset Management Americas Inc. bought a new stake in shares of Echo Global Logistics in the 4th quarter valued at $266,000. Hedge funds and other institutional investors own 99.04% of the company’s stock.

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In related news, COO David B. Menzel sold 50,000 shares of Echo Global Logistics stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Wagner Ferguson sold 10,389 shares of Echo Global Logistics stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $29.18, for a total transaction of $303,151.02. Following the completion of the sale, the director now directly owns 17,983 shares of the company’s stock, valued at approximately $524,743.94. The disclosure for this sale can be found here. In the last three months, insiders sold 110,389 shares of company stock valued at $3,138,901. 8.10% of the stock is currently owned by insiders.

NASDAQ ECHO opened at $28.00 on Friday. Echo Global Logistics, Inc. has a 12-month low of $13.00 and a 12-month high of $32.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $814.11, a P/E ratio of 42.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.44.

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

ECHO has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Echo Global Logistics from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Morgan Stanley lowered shares of Echo Global Logistics from an “equal weight” rating to an “underweight” rating and set a $15.00 price objective for the company. in a research note on Friday, February 23rd. BidaskClub upgraded shares of Echo Global Logistics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Macquarie lowered shares of Echo Global Logistics from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 14th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Echo Global Logistics has an average rating of “Buy” and a consensus price target of $30.40.

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

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