Summit Creek Advisors LLC Has $8.37 Million Stake in Echo Global Logistics, Inc. (ECHO)

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Summit Creek Advisors LLC lowered its position in Echo Global Logistics, Inc. (NASDAQ:ECHO) by 0.2% in the 1st quarter, Holdings Channel reports. The firm owned 337,620 shares of the transportation company’s stock after selling 580 shares during the period. Summit Creek Advisors LLC’s holdings in Echo Global Logistics were worth $8,366,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ECHO. Quantamental Technologies LLC bought a new position in Echo Global Logistics during the fourth quarter valued at about $41,000. Oppenheimer Asset Management Inc. bought a new position in Echo Global Logistics during the fourth quarter valued at about $93,000. NumerixS Investment Technologies Inc grew its position in Echo Global Logistics by 148.4% during the fourth quarter. NumerixS Investment Technologies Inc now owns 4,720 shares of the transportation company’s stock valued at $95,000 after buying an additional 2,820 shares during the period. First Trust Advisors LP bought a new position in Echo Global Logistics during the third quarter valued at about $213,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in Echo Global Logistics during the fourth quarter valued at about $165,000. Institutional investors own 99.04% of the company’s stock.

NASDAQ:ECHO traded down $0.22 on Monday, reaching $24.91. 2,084 shares of the company’s stock were exchanged, compared to its average volume of 197,640. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $695.50 million, a PE ratio of 15.31, a P/E/G ratio of 0.90 and a beta of 2.05. Echo Global Logistics, Inc. has a 52 week low of $18.83 and a 52 week high of $36.75.

Echo Global Logistics (NASDAQ:ECHO) last issued its earnings results on Wednesday, February 6th. The transportation company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $583.00 million during the quarter, compared to analyst estimates of $587.32 million. Echo Global Logistics had a net margin of 1.18% and a return on equity of 12.01%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. Analysts anticipate that Echo Global Logistics, Inc. will post 1.6 earnings per share for the current fiscal year.

ECHO has been the subject of several research reports. Zacks Investment Research upgraded shares of Echo Global Logistics from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Thursday, February 7th. Morgan Stanley lowered shares of Echo Global Logistics from an “equal weight” rating to an “underweight” rating and set a $23.40 price target for the company. in a research report on Wednesday, March 6th. Susquehanna Bancshares lowered shares of Echo Global Logistics from a “positive” rating to a “neutral” rating in a research report on Wednesday, April 10th. BidaskClub upgraded shares of Echo Global Logistics from a “strong sell” rating to a “sell” rating in a research report on Saturday, March 9th. Finally, Credit Suisse Group reduced their price target on shares of Echo Global Logistics from $29.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.64.

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Echo Global Logistics Profile

Echo Global Logistics, Inc provides technology-enabled transportation and supply chain management solutions in the United States. It utilizes a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.

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Want to see what other hedge funds are holding ECHO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Echo Global Logistics, Inc. (NASDAQ:ECHO).

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

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