Stock Traders Purchase Large Volume of Call Options on Echo Global Logistics (NASDAQ:ECHO)

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Echo Global Logistics, Inc. (NASDAQ:ECHO) was the recipient of some unusual options trading on Thursday. Stock investors bought 2,609 call options on the stock. This represents an increase of approximately 2,272% compared to the average daily volume of 110 call options.

Echo Global Logistics stock traded up $0.33 during midday trading on Thursday, reaching $17.53. The company’s stock had a trading volume of 43,614 shares, compared to its average volume of 299,119. Echo Global Logistics has a 52 week low of $14.17 and a 52 week high of $25.95. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $18.79 and a 200-day moving average price of $20.61. The stock has a market cap of $476.40 million, a PE ratio of 31.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.73.

Echo Global Logistics (NASDAQ:ECHO) last posted its earnings results on Wednesday, February 5th. The transportation company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. Echo Global Logistics had a net margin of 0.68% and a return on equity of 8.06%. The firm had revenue of $531.70 million during the quarter, compared to the consensus estimate of $520.39 million. During the same quarter last year, the firm earned $0.47 EPS. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, research analysts predict that Echo Global Logistics will post 0.83 EPS for the current fiscal year.

Several research firms recently weighed in on ECHO. Morgan Stanley dropped their target price on shares of Echo Global Logistics from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Barrington Research started coverage on shares of Echo Global Logistics in a research report on Tuesday, February 4th. They set a “buy” rating and a $27.00 target price on the stock. Zacks Investment Research lowered shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, December 30th. BidaskClub upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research note on Friday, March 20th. Finally, Cowen reiterated a “buy” rating and set a $29.00 price target on shares of Echo Global Logistics in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Echo Global Logistics currently has a consensus rating of “Hold” and a consensus price target of $25.38.

In related news, COO David B. Menzel sold 20,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.89, for a total value of $417,800.00. Following the transaction, the chief operating officer now directly owns 145,722 shares of the company’s stock, valued at approximately $3,044,132.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in ECHO. New York State Teachers Retirement System grew its position in shares of Echo Global Logistics by 5.3% during the 4th quarter. New York State Teachers Retirement System now owns 17,864 shares of the transportation company’s stock valued at $370,000 after acquiring an additional 900 shares during the period. Meeder Asset Management Inc. purchased a new position in Echo Global Logistics in the 4th quarter worth approximately $35,000. Stifel Financial Corp lifted its stake in Echo Global Logistics by 1.9% in the 3rd quarter. Stifel Financial Corp now owns 103,576 shares of the transportation company’s stock worth $2,346,000 after purchasing an additional 1,887 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Echo Global Logistics by 16.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,480 shares of the transportation company’s stock worth $279,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Echo Global Logistics by 4.9% in the 4th quarter. Rhumbline Advisers now owns 93,851 shares of the transportation company’s stock worth $1,943,000 after purchasing an additional 4,382 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Echo Global Logistics Company 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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