Mercer Global Advisors Inc. ADV Reduces Stock Holdings in Olo Inc. (NYSE:OLO)

Mercer Global Advisors Inc. ADV lowered its holdings in shares of Olo Inc. (NYSE:OLO – Get Rating) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,535 shares of the company’s stock after selling 8,262 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in OLO were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OLO. Janney Montgomery Scott LLC bought a new position in OLO in the fourth quarter worth approximately $63,000. Point72 Hong Kong Ltd purchased a new position in OLO during the third quarter valued at $64,000. Orion Portfolio Solutions LLC bought a new stake in OLO during the fourth quarter valued at about $64,000. Tortoise Investment Management LLC purchased a new stake in OLO in the third quarter worth about $66,000. Finally, ProShare Advisors LLC bought a new position in shares of OLO in the fourth quarter worth about $72,000. Institutional investors own 80.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on OLO shares. StockNews.com started coverage on OLO in a research note on Thursday, May 18th. They set a “hold” rating for the company. Stifel Nicolaus decreased their price target on OLO from $10.00 to $9.00 in a report on Wednesday, May 10th. Royal Bank of Canada upped their price objective on OLO from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. Finally, Piper Sandler restated a “neutral” rating and issued a $9.00 price target on shares of OLO in a research note on Tuesday, March 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.58.

OLO Stock Down 3.0 %

Shares of OLO stock opened at $6.83 on Friday. Olo Inc. has a 12-month low of $5.74 and a 12-month high of $14.08. The stock’s 50-day moving average price is $7.43 and its 200-day moving average price is $7.43.

OLO (NYSE:OLO – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The business had revenue of $49.78 million for the quarter, compared to the consensus estimate of $48.47 million. OLO had a negative return on equity of 4.63% and a negative net margin of 24.71%. Equities research analysts predict that Olo Inc. will post -0.17 earnings per share for the current year.

Insider Activity at OLO

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