Insider Selling: Echo Global Logistics, Inc. (ECHO) CEO Sells 29,800 Shares of Stock

Echo Global Logistics, Inc. (NASDAQ:ECHO) CEO Douglas R. Waggoner sold 29,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $30.03, for a total value of $894,894.00. Following the sale, the chief executive officer now owns 336,332 shares of the company’s stock, valued at approximately $10,100,049.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Echo Global Logistics traded down $0.35, hitting $30.45, during trading hours on Thursday, MarketBeat Ratings reports. The company’s stock had a trading volume of 214,700 shares, compared to its average volume of 382,807. The stock has a market capitalization of $842.61 million, a price-to-earnings ratio of 46.14, a PEG ratio of 1.47 and a beta of 1.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.48 and a current ratio of 1.48. Echo Global Logistics, Inc. has a 52-week low of $13.00 and a 52-week high of $32.95.

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

Several equities research analysts have recently commented on ECHO shares. ValuEngine upgraded Echo Global Logistics from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research cut Echo Global Logistics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 10th. BidaskClub upgraded Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Friday, March 16th. Morgan Stanley cut 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 report on Friday, February 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Echo Global Logistics from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $32.30.

A number of institutional investors have recently bought and sold shares of ECHO. Bank of Montreal Can grew its holdings in Echo Global Logistics by 1,027.6% in the fourth quarter. Bank of Montreal Can now owns 51,351 shares of the transportation company’s stock valued at $1,438,000 after purchasing an additional 46,797 shares during the last quarter. Aperio Group LLC grew its holdings in Echo Global Logistics by 57.4% in the fourth quarter. Aperio Group LLC now owns 24,520 shares of the transportation company’s stock valued at $687,000 after purchasing an additional 8,937 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Echo Global Logistics in the fourth quarter valued at $245,000. Arizona State Retirement System grew its holdings in Echo Global Logistics by 215.7% in the fourth quarter. Arizona State Retirement System now owns 44,088 shares of the transportation company’s stock valued at $1,234,000 after purchasing an additional 30,124 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Echo Global Logistics by 15.2% in the fourth quarter. Rhumbline Advisers now owns 63,305 shares of the transportation company’s stock valued at $1,773,000 after purchasing an additional 8,345 shares during the last quarter. 96.73% of the stock is currently owned by institutional investors.

Echo Global Logistics Company Profile

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.

Insider Buying and Selling by Quarter for Echo Global Logistics (NASDAQ:ECHO)

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