Echo Global Logistics Sees Unusually High Options Volume (NASDAQ:ECHO)

Echo Global Logistics, Inc. (NASDAQ:ECHO) was the target of unusually large options trading activity on Thursday. Investors bought 2,609 call options on the stock. This represents an increase of approximately 2,272% compared to the typical daily volume of 110 call options.

ECHO stock opened at $17.60 on Friday. The firm has a market cap of $476.40 million, a PE ratio of 32.00, a P/E/G ratio of 1.22 and a beta of 1.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.46 and a current ratio of 1.46. The firm’s fifty day moving average is $18.79 and its 200 day moving average is $20.61. Echo Global Logistics has a one year low of $14.17 and a one year high of $25.95.

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

In other news, COO David B. Menzel sold 20,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $20.89, for a total transaction of $417,800.00. Following the sale, the chief operating officer now directly owns 145,722 shares in the company, valued at approximately $3,044,132.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of ECHO. ArrowMark Colorado Holdings LLC increased its position in shares of Echo Global Logistics by 35.7% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 1,308,938 shares of the transportation company’s stock valued at $27,095,000 after acquiring an additional 344,378 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Echo Global Logistics by 545.8% in the fourth quarter. Bank of Montreal Can now owns 326,296 shares of the transportation company’s stock valued at $6,754,000 after purchasing an additional 275,773 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Echo Global Logistics by 65.6% in the fourth quarter. Renaissance Technologies LLC now owns 321,800 shares of the transportation company’s stock valued at $6,661,000 after purchasing an additional 127,500 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of Echo Global Logistics in the third quarter valued at approximately $2,149,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Echo Global Logistics by 12.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 723,194 shares of the transportation company’s stock valued at $14,970,000 after purchasing an additional 82,574 shares in the last quarter. 98.44% of the stock is currently owned by hedge funds and other institutional investors.

ECHO has been the topic of several recent research reports. BidaskClub upgraded shares of Echo Global Logistics from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. Susquehanna Bancshares upgraded shares of Echo Global Logistics from a “neutral” rating to a “positive” rating and set a $29.00 price target on the stock in a report on Wednesday, January 15th. Zacks Investment Research downgraded shares of Echo Global Logistics from a “hold” rating to a “sell” rating in a report on Monday, December 30th. Barrington Research started coverage on shares of Echo Global Logistics in a report on Tuesday, February 4th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Morgan Stanley cut their price target on shares of Echo Global Logistics from $22.00 to $21.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $25.38.

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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