Echo Global Logistics, Inc. (ECHO) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its stake in shares of Echo Global Logistics, Inc. (NASDAQ:ECHO) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 294,095 shares of the transportation company’s stock after selling 7,700 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 1.03% of Echo Global Logistics worth $8,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Federated Investors Inc. PA grew its holdings in shares of Echo Global Logistics by 820.8% during the 1st quarter. Federated Investors Inc. PA now owns 4,116 shares of the transportation company’s stock worth $114,000 after purchasing an additional 3,669 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Echo Global Logistics during the 2nd quarter worth approximately $182,000. PNC Financial Services Group Inc. grew its holdings 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 worth $261,000 after purchasing an additional 7,523 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Echo Global Logistics during the 1st quarter worth approximately $279,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Echo Global Logistics in the 4th quarter valued at $302,000. 98.00% of the stock is owned by hedge funds and other institutional investors.

In other Echo Global Logistics news, CEO Douglas R. Waggoner sold 29,800 shares of the firm’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $30.03, for a total transaction of $894,894.00. Following the transaction, the chief executive officer now owns 336,332 shares in the company, valued at approximately $10,100,049.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Douglas R. Waggoner sold 40,000 shares of the firm’s stock in a transaction on Monday, June 25th. The stock was sold at an average price of $30.15, for a total value of $1,206,000.00. Following the transaction, the chief executive officer now owns 346,332 shares in the company, valued at approximately $10,441,909.80. The disclosure for this sale can be found here. Insiders sold 145,301 shares of company stock worth $4,544,139 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Shares of ECHO stock traded up $0.75 on Friday, hitting $33.20. 397,800 shares of the stock were exchanged, compared to its average volume of 389,296. Echo Global Logistics, Inc. has a fifty-two week low of $13.75 and a fifty-two week high of $34.83. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market capitalization of $946.37 million, a P/E ratio of 50.30, a P/E/G ratio of 1.33 and a beta of 1.57.

Echo Global Logistics (NASDAQ:ECHO) last issued its quarterly earnings results on Wednesday, July 25th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.39 by $0.07. The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $611.26 million. Echo Global Logistics had a return on equity of 9.43% and a net margin of 1.24%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. equities analysts expect that Echo Global Logistics, Inc. will post 1.42 EPS for the current year.

Several analysts recently commented on ECHO shares. TheStreet raised Echo Global Logistics from a “c+” rating to a “b-” rating in a research note on Friday, August 10th. Stifel Nicolaus boosted their price objective on Echo Global Logistics from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Barrington Research set a $37.00 price objective on Echo Global Logistics and gave the stock a “buy” rating in a research note on Wednesday, July 25th. ValuEngine upgraded Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Finally, BidaskClub upgraded Echo Global Logistics from a “hold” rating to a “buy” rating in a research report on Friday, June 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Echo Global Logistics has a consensus rating of “Buy” and an average target price of $34.67.

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.

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

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