Evergreen Capital Management LLC Buys Shares of 23,150 Olo Inc. (NYSE:OLO)

Evergreen Capital Management LLC bought a new stake in Olo Inc. (NYSE:OLO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,150 shares of the company’s stock, valued at approximately $102,000.

Several other hedge funds and other institutional investors have also modified their holdings of OLO. Benjamin F. Edwards & Company Inc. purchased a new stake in OLO in the 1st quarter worth about $29,000. Federated Hermes Inc. boosted its holdings in shares of OLO by 644,200.0% during the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after purchasing an additional 6,442 shares during the period. Rockport Wealth LLC purchased a new position in OLO during the first quarter valued at approximately $55,000. SYSTM Wealth Solutions LLC purchased a new position in OLO during the first quarter valued at approximately $106,000. Finally, MQS Management LLC increased its stake in OLO by 47.4% in the 2nd quarter. MQS Management LLC now owns 24,465 shares of the company’s stock valued at $108,000 after buying an additional 7,866 shares during the period. Institutional investors and hedge funds own 93.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on OLO shares. Piper Sandler restated an “overweight” rating and set a $8.00 price target on shares of OLO in a report on Thursday, August 1st. Lake Street Capital upped their target price on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com upgraded OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

OLO Trading Up 1.0 %

Shares of OLO stock opened at $4.89 on Friday. The firm has a fifty day simple moving average of $5.07 and a 200-day simple moving average of $4.88. The stock has a market capitalization of $792.72 million, a price-to-earnings ratio of -16.86 and a beta of 1.28. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $6.84.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $70.50 million during 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%. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.04) earnings per share. As a group, research analysts predict that Olo Inc. will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, CRO Diego Panama sold 13,555 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the completion of the sale, the executive now directly owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CRO Diego Panama sold 13,555 shares of OLO 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 sale, the executive now directly owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Joanna G. Lambert sold 67,403 shares of the company’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 $330,274.70. Following the completion of the transaction, the chief operating officer now directly owns 591,646 shares of the company’s stock, valued at approximately $2,899,065.40. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock valued at $554,425 in the last three months. Company insiders own 39.33% of the company’s stock.

OLO Company 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.