Rhumbline Advisers Buys 4,979 Shares of Olo Inc. (NYSE:OLO)

Rhumbline Advisers grew its stake in Olo Inc. (NYSE:OLO) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 153,760 shares of the company’s stock after purchasing an additional 4,979 shares during the period. Rhumbline Advisers’ holdings in OLO were worth $680,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. purchased a new stake in OLO in the 1st quarter valued at $29,000. Rockport Wealth LLC bought a new stake in shares of OLO in the 1st quarter worth $55,000. Victory Capital Management Inc. raised its holdings in shares of OLO by 29.7% in the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock valued at $80,000 after purchasing an additional 3,219 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new stake in shares of OLO in the first quarter valued at about $106,000. Finally, Diversified Trust Co lifted its position in shares of OLO by 8.8% during the first quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock valued at $155,000 after purchasing an additional 2,285 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Stock Down 0.4 %

NYSE OLO opened at $5.05 on Wednesday. The company has a market cap of $810.61 million, a PE ratio of -17.41 and a beta of 1.28. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $6.84. The firm’s 50-day simple moving average is $5.07 and its two-hundred day simple moving average is $4.89.

OLO (NYSE:OLO) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $70.50 million for the quarter, compared to analysts’ expectations of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. OLO’s revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) EPS. As a group, equities research analysts anticipate that Olo Inc. will post -0.06 EPS for the current year.

Insiders Place Their Bets

In other news, insider Sherri Manning sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the transaction, the insider now directly owns 148,414 shares in the company, valued at $727,228.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Diego Panama sold 13,555 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $66,419.50. Following the transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sherri Manning sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the sale, the insider now owns 148,414 shares of the company’s stock, valued at $727,228.60. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock worth $554,425 over the last 90 days. Corporate insiders own 39.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Lake Street Capital lifted their price target on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Piper Sandler reissued an “overweight” rating and issued a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, OLO presently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

OLO Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.