Walleye Capital LLC bought a new stake in Olo Inc. (NYSE:OLO – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,766 shares of the company's stock, valued at approximately $500,000.
Other large investors have also modified their holdings of the company. HWG Holdings LP acquired a new stake in shares of OLO in the fourth quarter valued at about $27,000. Ensign Peak Advisors Inc acquired a new stake in shares of OLO in the first quarter valued at about $113,000. Captrust Financial Advisors grew its stake in OLO by 159.8% during the 1st quarter. Captrust Financial Advisors now owns 10,417 shares of the company's stock valued at $138,000 after purchasing an additional 6,407 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in OLO during the 1st quarter valued at approximately $141,000. Finally, Game Plan Financial Advisors LLC acquired a new stake in OLO during the 1st quarter valued at approximately $160,000. Institutional investors and hedge funds own 80.41% of the company's stock.
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OLO Trading Down 4.7 %
Shares of OLO opened at $7.70 on Friday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -33.48 and a beta of 1.41. The stock has a 50 day moving average of $9.52 and a 200-day moving average of $10.67. Olo Inc. has a 52 week low of $7.16 and a 52 week high of $34.56.
OLO (NYSE:OLO – Get Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $45.60 million for the quarter, compared to the consensus estimate of $45.83 million. OLO had a negative return on equity of 3.99% and a negative net
margin of 22.06%. The business's revenue was up 27.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. On average, sell-side analysts predict that Olo Inc. will post -0.21 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
OLO has been the subject of a number of recent analyst reports. StockNews.com lowered OLO from a "hold" rating to a "sell" rating in a research note on Thursday. Truist Financial lowered their price objective on OLO from $25.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, August 12th. Piper Sandler lowered OLO from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $13.00 to $9.00 in a research note on Friday, August 12th. Royal Bank of Canada lowered their price objective on OLO from $17.00 to $12.00 in a research note on Friday, August 12th. Finally, JPMorgan Chase & Co. decreased their target price on OLO from $26.00 to $21.00 in a research report on Friday, June 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, OLO presently has an average rating of "Hold" and an average target price of $13.40.
Insider Buying and Selling
In related news, Director Daniel Harris Meyer purchased 32,500 shares of the business's stock in a transaction that occurred on Thursday, August 18th. The shares were acquired at an average price of $7.62 per share, with a total value of $247,650.00. Following the acquisition, the director now owns 470,275 shares in the company, valued at approximately $3,583,495.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other OLO news, insider Marty D. Hahnfeld sold 21,836 shares of OLO stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $10.53, for a total transaction of $229,933.08. Following the sale, the insider now owns 603,292 shares of the company's stock, valued at approximately $6,352,664.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Harris Meyer bought 32,500 shares of the business's stock in a transaction on Thursday, August 18th. The shares were acquired at an average cost of $7.62 per share, for a total transaction of $247,650.00. Following the purchase, the director now directly owns 470,275 shares in the company, valued at $3,583,495.50. The disclosure for this purchase can be found here. Company insiders own 40.52% of the company's stock.
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.
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