Koch Industries Inc. Invests $314,000 in Echo Global Logistics, Inc. (ECHO)

Share on StockTwits

Koch Industries Inc. purchased a new stake in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 11,361 shares of the transportation company’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Origin Asset Management LLP purchased a new position in shares of Echo Global Logistics during the 1st quarter valued at $369,000. PNC Financial Services Group Inc. grew its position in shares of Echo Global Logistics by 392.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,440 shares of the transportation company’s stock valued at $261,000 after purchasing an additional 7,523 shares in the last quarter. Spark Investment Management LLC purchased a new position in shares of Echo Global Logistics during the 1st quarter valued at $1,973,000. Seizert Capital Partners LLC purchased a new position in shares of Echo Global Logistics during the 1st quarter valued at $2,191,000. Finally, Matarin Capital Management LLC purchased a new position in shares of Echo Global Logistics during the 1st quarter valued at $636,000. Hedge funds and other institutional investors own 96.73% of the company’s stock.

Shares of Echo Global Logistics opened at $30.55 on Friday, MarketBeat Ratings reports. Echo Global Logistics, Inc. has a 52-week low of $13.00 and a 52-week high of $32.95. The firm has a market capitalization of $866.73 million, a P/E ratio of 31.49, a P/E/G ratio of 1.51 and a beta of 1.48. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.58.

Echo Global Logistics (NASDAQ:ECHO) last announced its earnings results on Wednesday, April 25th. The transportation company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.10. Echo Global Logistics had a net margin of 0.96% and a return on equity of 7.50%. The company had revenue of $577.10 million during the quarter, compared to analyst estimates of $538.90 million. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s quarterly revenue was up 38.8% compared to the same quarter last year. sell-side analysts predict that Echo Global Logistics, Inc. will post 1.15 EPS for the current year.

A number of research analysts have recently commented on the stock. BidaskClub upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Friday. ValuEngine upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Monday, June 11th. Morgan Stanley boosted their price target on shares of Echo Global Logistics from $20.00 to $21.00 and gave the company a “sell” rating in a research report on Tuesday, May 1st. Zacks Investment Research upgraded shares of Echo Global Logistics from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research report on Monday, April 30th. Finally, Barrington Research restated an “outperform” rating and set a $37.00 price target (up from $35.00) on shares of Echo Global Logistics in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.30.

In other Echo Global Logistics news, COO David B. Menzel sold 50,000 shares of the business’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $27.92, for a total value of $1,396,000.00. Following the completion of the sale, the chief operating officer now directly owns 217,334 shares of the company’s stock, valued at $6,067,965.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas R. Waggoner sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $28.03, for a total transaction of $700,750.00. Following the completion of the sale, the chief executive officer now directly owns 310,402 shares of the company’s stock, valued at $8,700,568.06. The disclosure for this sale can be found here. Insiders sold 224,501 shares of company stock valued at $6,458,705 over the last quarter. 3.20% of the stock is owned by company insiders.

About Echo Global Logistics

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

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

Receive News & Ratings for Echo Global Logistics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Echo Global Logistics and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

OGE Energy Corp.  Forecasted to Earn Q2 2018 Earnings of $0.57 Per Share
OGE Energy Corp. Forecasted to Earn Q2 2018 Earnings of $0.57 Per Share
Wedbush Analysts Decrease Earnings Estimates for Mastercard Inc
Wedbush Analysts Decrease Earnings Estimates for Mastercard Inc
Heartland Express  Stock Rating Reaffirmed by Stifel Nicolaus
Heartland Express Stock Rating Reaffirmed by Stifel Nicolaus
Skyworks Solutions’  “Hold” Rating Reaffirmed at Cowen
Skyworks Solutions’ “Hold” Rating Reaffirmed at Cowen
Pioneer Energy Services Corp  Forecasted to Earn Q2 2018 Earnings of  Per Share
Pioneer Energy Services Corp Forecasted to Earn Q2 2018 Earnings of Per Share
Q2 2018 Earnings Forecast for PDC Energy Inc  Issued By Imperial Capital
Q2 2018 Earnings Forecast for PDC Energy Inc Issued By Imperial Capital


© 2006-2018 Ticker Report. Google+.