Echo Global Logistics (ECHO) : Summit Creek Advisors scooped up 87,230 additional shares in Echo Global Logistics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 20, 2016. The investment management firm now holds a total of 789,653 shares of Echo Global Logistics which is valued at $18,983,258.Echo Global Logistics makes up approximately 3.08% of Summit Creek Advisors’s portfolio.
Other Hedge Funds, Including , Wealthtrust-arizona sold out all of its stake in ECHO during the most recent quarter. The investment firm sold 359 shares of ECHO which is valued $8,630.Farmers Merchants Investments Inc boosted its stake in ECHO in the latest quarter, The investment management firm added 46 additional shares and now holds a total of 234 shares of Echo Global Logistics which is valued at $5,658. Carroll Financial Associates sold out all of its stake in ECHO during the most recent quarter. The investment firm sold 232 shares of ECHO which is valued $5,610.Capstone Asset Management Co reduced its stake in ECHO by selling 760 shares or 5.73% in the most recent quarter. The Hedge Fund company now holds 12,510 shares of ECHO which is valued at $297,113. Echo Global Logistics makes up approx 0.01% of Capstone Asset Management Co’s portfolio.Cutler Group Lp boosted its stake in ECHO in the latest quarter, The investment management firm added 138 additional shares and now holds a total of 177 shares of Echo Global Logistics which is valued at $4,204.
Echo Global Logistics opened for trading at $24.18 and hit $24.47 on the upside on Wednesday, eventually ending the session at $24.18, with a gain of 0.17% or 0.04 points. The heightened volatility saw the trading volume jump to 1,28,768 shares. Company has a market cap of $729 M.
On the company’s financial health, Echo Global Logistics reported $0.24 EPS for the quarter, based on the information available during the earnings call on Apr 27, 2016. Analyst had a consensus estimate of $0.24. The company had revenue of $405.00 million for the quarter, compared to analysts expectations of $406.45 million. The company’s revenue was up 42.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.
Many Wall Street Analysts have commented on Echo Global Logistics. JP Morgan Initiated Echo Global Logistics on Jul 11, 2016 to “Overweight”, Price Target of the shares are set at $31.Shares were Downgraded by UBS on Jul 11, 2016 to ” Neutral” and Lowered the Price Target to $ 24 from a previous price target of $29 .Company shares were Reiterated by Cowen on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 28 from a previous price target of $26 .
Echo Global Logistics Inc. is a provider of technology-enabled transportation and supply chain management services delivered on a technology platform serving the transportation and logistics needs of its clients. The Company provides services across major transportation modes including truckload (TL) less-than-truckload (LTL) small parcel intermodal domestic air and international. The Company’s core logistics services include rate negotiation shipment execution and tracking carrier selection and management routing compliance freight bill audit and payment and performance management and reporting functions including executive dashboard tools. It procures transportation and provides logistics services for clients across industries such as manufacturing construction consumer products and retail.