Summit Creek Advisors buys $18,284,071 stake in Echo Global Logistics (ECHO)

Echo Global Logistics (ECHO) : Summit Creek Advisors scooped up 98,063 additional shares in Echo Global Logistics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 702,423 shares of Echo Global Logistics which is valued at $18,284,071.Echo Global Logistics makes up approximately 2.82% of Summit Creek Advisors’s portfolio.

Echo Global Logistics opened for trading at $25.6 and hit $26.15 on the upside on Friday, eventually ending the session at $26.03, with a gain of 2.12% or 0.54 points. The heightened volatility saw the trading volume jump to 5,11,784 shares. Company has a market cap of $782 M.

Other Hedge Funds, Including , Laurel Grove Capital reduced its stake in ECHO by selling 20,844 shares or 55.52% in the most recent quarter. The Hedge Fund company now holds 16,700 shares of ECHO which is valued at $434,701. Echo Global Logistics makes up approx 0.24% of Laurel Grove Capital’s portfolio.New York State Teachers Retirement System boosted its stake in ECHO in the latest quarter, The investment management firm added 700 additional shares and now holds a total of 11,423 shares of Echo Global Logistics which is valued at $297,341. Capital Impact Advisors sold out all of its stake in ECHO during the most recent quarter. The investment firm sold 17,425 shares of ECHO which is valued $444,512.Eagle Asset Management Inc reduced its stake in ECHO by selling 15,952 shares or 2.17% in the most recent quarter. The Hedge Fund company now holds 719,628 shares of ECHO which is valued at $18,163,411. Echo Global Logistics makes up approx 0.13% of Eagle Asset Management Inc’s portfolio.

On the company’s financial health, Echo Global Logistics reported $0.28 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $407.20 million for the quarter, compared to analysts expectations of $424.32 million. The company’s revenue was up 35.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

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.

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