SG Americas Securities LLC reduced its stake in shares of Olo Inc. (NYSE:OLO – Get 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
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:OLO – Get 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.
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.
- Get a free copy of the StockNews.com research report on OLO (OLO)
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