As Echo Global Logistics (ECHO) Share Price Declined, Granahan Investment Management INC Has Raised Holding by $3.80 Million

April 21, 2018 - By Hazel Jackson

Echo Global Logistics, Inc. (NASDAQ:ECHO) LogoInvestors sentiment increased to 1.26 in 2017 Q4. Its up 0.09, from 1.17 in 2017Q3. It improved, as 8 investors sold ECHO shares while 53 reduced holdings. 42 funds opened positions while 35 raised stakes. 26.25 million shares or 3.56% more from 25.35 million shares in 2017Q3 were reported. Sector Pension Investment Board accumulated 0% or 17,323 shares. Next Century Growth Invsts Lc invested in 624,758 shares or 2.17% of the stock. Kansas-based Kornitzer Inc Ks has invested 0.15% in Echo Global Logistics, Inc. (NASDAQ:ECHO). Fifth Third Commercial Bank invested in 102 shares. Ami Asset Management Corporation accumulated 585,478 shares. Deutsche Natl Bank Ag holds 0% or 181,692 shares in its portfolio. Stephens Inv Management Grp Limited has 617,372 shares for 0.39% of their portfolio. Great West Life Assurance Communication Can invested in 31,906 shares or 0% of the stock. Invesco has 0.01% invested in Echo Global Logistics, Inc. (NASDAQ:ECHO). Tiaa Cref Inv Management Llc owns 235,408 shares. Penn Cap Company Inc reported 185,833 shares or 0.36% of all its holdings. Stone Ridge Asset Management Ltd Liability Com, a New York-based fund reported 7,941 shares. State Teachers Retirement holds 0% or 10,134 shares. Comerica National Bank accumulated 26,978 shares. Voya Invest Mngmt Limited Liability Corp owns 12,435 shares.

Granahan Investment Management Inc increased its stake in Echo Global Logistics (ECHO) by 16.13% based on its latest 2017Q4 regulatory filing with the SEC. Granahan Investment Management Inc bought 135,670 shares as the company’s stock declined 7.88% with the market. The hedge fund held 976,563 shares of the transportation company at the end of 2017Q4, valued at $27.34M, up from 840,893 at the end of the previous reported quarter. Granahan Investment Management Inc who had been investing in Echo Global Logistics for a number of months, seems to be bullish on the $837.94 million market cap company. The stock decreased 0.17% or $0.05 during the last trading session, reaching $29.9. About 206,132 shares traded. Echo Global Logistics, Inc. (NASDAQ:ECHO) has risen 28.61% since April 21, 2017 and is uptrending. It has outperformed by 17.06% the S&P500.

Granahan Investment Management Inc, which manages about $3.81B and $1.27 billion US Long portfolio, decreased its stake in Abiomed (NASDAQ:ABMD) by 48,373 shares to 84,562 shares, valued at $15.85M in 2017Q4, according to the filing. It also reduced its holding in Pdf Solutions (NASDAQ:PDFS) by 283,409 shares in the quarter, leaving it with 429,040 shares, and cut its stake in Nektar (NASDAQ:NKTR).

Echo Global Logistics, Inc. (NASDAQ:ECHO) Ratings Coverage

Among 9 analysts covering Echo Global Logistics (NASDAQ:ECHO), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. Echo Global Logistics has $40.0 highest and $15 lowest target. $29.33’s average target is -1.91% below currents $29.9 stock price. Echo Global Logistics had 16 analyst reports since October 26, 2017 according to SRatingsIntel. The stock of Echo Global Logistics, Inc. (NASDAQ:ECHO) earned “Neutral” rating by Credit Suisse on Thursday, October 26. The firm has “Sell” rating given on Thursday, October 26 by UBS. The rating was maintained by Susquehanna with “Buy” on Monday, January 8. The stock of Echo Global Logistics, Inc. (NASDAQ:ECHO) earned “Buy” rating by Stifel Nicolaus on Friday, December 8. Macquarie Research downgraded it to “Hold” rating and $29.0 target in Thursday, December 14 report. The firm has “Buy” rating by Stephens given on Monday, January 8. Cowen & Co maintained the shares of ECHO in report on Thursday, October 26 with “Buy” rating. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, October 26. The rating was maintained by Stephens on Thursday, February 8 with “Buy”. The stock has “Buy” rating by Stifel Nicolaus on Thursday, October 26.

Echo Global Logistics, Inc. (NASDAQ:ECHO) Institutional Positions Chart

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