Olo Inc. (NYSE:OLO) Holdings Decreased by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Olo Inc. (NYSE:OLOGet Rating) by 83.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,346 shares of the company’s stock after selling 289,266 shares during the quarter. SG Americas Securities LLC’s holdings in OLO were worth $786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OLO. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of OLO during the fourth quarter valued at about $129,000. FDx Advisors Inc. raised its stake in shares of OLO by 55.5% during the fourth quarter. FDx Advisors Inc. now owns 11,936 shares of the company’s stock valued at $248,000 after purchasing an additional 4,258 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in OLO by 22.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 25,713 shares of the company’s stock worth $535,000 after acquiring an additional 4,635 shares in the last quarter. New York State Common Retirement Fund raised its position in OLO by 232.7% in the fourth quarter. New York State Common Retirement Fund now owns 757,825 shares of the company’s stock worth $15,770,000 after acquiring an additional 530,055 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its position in OLO by 29.1% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,513 shares of the company’s stock worth $198,000 after acquiring an additional 2,146 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of OLO from $26.00 to $21.00 in a research report on Friday, June 17th. William Blair reiterated an “outperform” rating on shares of OLO in a research report on Wednesday, May 11th. Piper Sandler dropped their price target on shares of OLO from $14.00 to $13.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Finally, StockNews.com cut shares of OLO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, OLO currently has an average rating of “Moderate Buy” and a consensus price target of $27.60.

Insider Buying and Selling at OLO

In other OLO news, CEO Noah H. Glass sold 3,726 shares of OLO stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $10.87, for a total transaction of $40,501.62. Following the transaction, the chief executive officer now owns 142,051 shares of the company’s stock, valued at approximately $1,544,094.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other OLO news, CEO Noah H. Glass sold 3,726 shares of OLO stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $10.87, for a total transaction of $40,501.62. Following the transaction, the chief executive officer now owns 142,051 shares of the company’s stock, valued at approximately $1,544,094.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marty D. Hahnfeld sold 21,836 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $10.53, for a total value of $229,933.08. Following the completion of the sale, the insider now directly owns 603,292 shares of the company’s stock, valued at approximately $6,352,664.76. The disclosure for this sale can be found here. Insiders have sold a total of 29,655 shares of company stock valued at $314,926 in the last 90 days.

OLO Trading Up 2.7 %

NYSE OLO opened at $11.00 on Tuesday. The stock’s 50-day moving average price is $10.58 and its two-hundred day moving average price is $12.43. The company has a market cap of $1.75 billion, a PE ratio of -61.11 and a beta of 1.24. Olo Inc. has a 1 year low of $8.11 and a 1 year high of $49.00.

OLO (NYSE:OLOGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). OLO had a negative return on equity of 3.09% and a negative net margin of 17.52%. The company had revenue of $42.80 million for the quarter, compared to analyst estimates of $41.66 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. OLO’s quarterly revenue was up 18.6% on a year-over-year basis. Research analysts forecast that Olo Inc. will post -0.17 EPS for the current fiscal year.

About OLO

(Get Rating)

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants' point-of-sale and systems.

Further Reading

Want to see what other hedge funds are holding OLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olo Inc. (NYSE:OLOGet Rating).

Institutional Ownership by Quarter for OLO (NYSE:OLO)

Want More Great Investing Ideas?

Receive News & Ratings for OLO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OLO and related companies with MarketBeat.com's FREE daily email newsletter.