Russell Investments Group Ltd. Lowers Position in Olo Inc. (NYSE:OLO)

Russell Investments Group Ltd. decreased its position in Olo Inc. (NYSE:OLO – Get Rating) by 23.4% during the 4th quarter, Holdings Channel reports. The fund owned 357,616 shares of the company’s stock after selling 109,452 shares during the quarter. Russell Investments Group Ltd.’s holdings in OLO were worth $2,235,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in OLO. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of OLO by 185.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,318,549 shares of the company’s stock valued at $42,016,000 after acquiring an additional 3,453,136 shares in the last quarter. Wellington Management Group LLP boosted its holdings in OLO by 25.9% during the first quarter. Wellington Management Group LLP now owns 9,600,149 shares of the company’s stock worth $127,203,000 after buying an additional 1,975,221 shares in the last quarter. Vanguard Group Inc. boosted its holdings in OLO by 35.4% during the first quarter. Vanguard Group Inc. now owns 6,494,140 shares of the company’s stock worth $86,048,000 after buying an additional 1,696,613 shares in the last quarter. Ardevora Asset Management LLP purchased a new stake in OLO during the third quarter worth about $10,952,000. Finally, State Street Corp boosted its holdings in OLO by 384.1% during the second quarter. State Street Corp now owns 1,710,203 shares of the company’s stock worth $16,880,000 after buying an additional 1,356,896 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Wall Street Analysts Forecast Growth

OLO has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and set a $9.00 price objective on shares of OLO in a report on Tuesday, March 7th. Stifel Nicolaus cut their target price on shares of OLO from $10.00 to $9.00 in a research report on Wednesday, May 10th. Royal Bank of Canada lifted their target price on shares of OLO from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, February 23rd. Finally, StockNews.com began coverage on shares of OLO in a research report on Thursday. They set a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, OLO currently has a consensus rating of “Hold” and a consensus price target of $11.58.

OLO Price Performance

NYSE:OLO opened at $6.63 on Friday. The firm has a 50 day simple moving average of $7.47 and a 200-day simple moving average of $7.46. The firm has a market cap of $1.07 billion, a PE ratio of -22.86 and a beta of 1.20. Olo Inc. has a 1-year low of $5.74 and a 1-year high of $14.08.

OLO (NYSE:OLO – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. OLO had a negative net margin of 24.71% and a negative return on equity of 4.63%. The firm had revenue of $49.78 million during the quarter, compared to analyst estimates of $48.47 million. As a group, sell-side analysts expect that Olo Inc. will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Diego Panama sold 11,826 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $8.04, for a total value of $95,081.04. Following the completion of the transaction, the executive now directly owns 680,606 shares in the company, valued at $5,472,072.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Diego Panama sold 11,826 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $8.04, for a total value of $95,081.04. Following the completion of the transaction, the executive now directly owns 680,606 shares in the company, valued at $5,472,072.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Noah H. Glass sold 8,918 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $7.80, for a total transaction of $69,560.40. Following the completion of the sale, the chief executive officer now directly owns 310,880 shares in the company, valued at $2,424,864. The disclosure for this sale can be found here. Insiders sold a total of 34,491 shares of company stock worth $271,782 over the last ninety days. 40.52% of the stock is owned by company insiders.

OLO 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.