OLO Target of Unusually High Options Trading (NYSE:OLO)

Olo Inc. (NYSE:OLO) was the recipient of unusually large options trading on Thursday. Stock investors purchased 5,018 call options on the company. This is an increase of 3,117% compared to the average volume of 156 call options.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Driehaus Capital Management LLC purchased a new stake in shares of OLO in the fourth quarter valued at about $9,691,000. Arrowstreet Capital Limited Partnership grew its stake in shares of OLO by 138.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company’s stock valued at $14,561,000 after buying an additional 1,100,307 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of OLO by 274.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,351,488 shares of the company’s stock worth $8,163,000 after buying an additional 990,719 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of OLO by 85.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,655,500 shares of the company’s stock valued at $12,714,000 after buying an additional 763,400 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in OLO by 48.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company’s stock valued at $17,827,000 after acquiring an additional 757,617 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Trading Up 8.6 %

OLO stock opened at $8.13 on Friday. The firm has a 50-day moving average of $6.35 and a two-hundred day moving average of $6.78. OLO has a 12 month low of $4.20 and a 12 month high of $8.35. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -81.31 and a beta of 1.41.

OLO (NYSE:OLO) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company had revenue of $76.07 million during the quarter, compared to analyst estimates of $72.76 million. As a group, equities analysts forecast that OLO will post -0.03 earnings per share for the current year.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.