Steward Partners Investment Advisory LLC Has $148,000 Stock Holdings in Olo Inc. (NYSE:OLO)

Steward Partners Investment Advisory LLC decreased its position in shares of Olo Inc. (NYSE:OLOGet Rating) by 36.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,183 shares of the company’s stock after selling 6,453 shares during the period. Steward Partners Investment Advisory LLC’s holdings in OLO were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OLO. Geneos Wealth Management Inc. acquired a new stake in OLO in the fourth quarter valued at approximately $52,000. 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 acquiring an additional 4,258 shares during the last quarter. Green Square Capital Advisors LLC bought a new position in shares of OLO during the fourth quarter valued at $317,000. Squarepoint Ops LLC raised its stake in shares of OLO by 839.2% during the fourth quarter. Squarepoint Ops LLC now owns 145,527 shares of the company’s stock valued at $3,028,000 after acquiring an additional 130,033 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of OLO during the fourth quarter valued at $7,255,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

OLO Price Performance

Shares of NYSE OLO opened at $11.00 on Tuesday. The stock has a market capitalization of $1.75 billion, a P/E ratio of -61.11 and a beta of 1.24. The company has a 50-day moving average price of $10.58 and a 200-day moving average price of $12.43. Olo Inc. has a 1 year low of $8.11 and a 1 year high of $49.00.

OLO (NYSE:OLOGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.06) earnings per share 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 firm had revenue of $42.80 million for the quarter, compared to analysts’ expectations of $41.66 million. During the same quarter last year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Olo Inc. will post -0.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OLO has been the subject of a number of analyst reports. Piper Sandler lowered their target price on shares of OLO from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. JPMorgan Chase & Co. decreased their price target on shares of OLO from $26.00 to $21.00 in a research note on Friday, June 17th. William Blair reaffirmed an “outperform” rating on shares of OLO in a research note on Wednesday, May 11th. Finally, StockNews.com downgraded shares of OLO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, OLO currently has a consensus rating of “Moderate Buy” and an average price target of $27.60.

Insider Buying and Selling

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

OLO Company Profile

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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.

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Institutional Ownership by Quarter for OLO (NYSE:OLO)

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