Wallace Advisory Group LLC Makes New $57,000 Investment in Olo Inc. (NYSE:OLO)

Wallace Advisory Group LLC purchased a new position in shares of Olo Inc. (NYSE:OLO) during the 2nd quarter, HoldingsChannel reports. The firm purchased 12,867 shares of the company’s stock, valued at approximately $57,000.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in OLO by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock worth $69,940,000 after purchasing an additional 319,544 shares during the period. Dimensional Fund Advisors LP increased its holdings in OLO by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock worth $19,512,000 after purchasing an additional 416,851 shares during the period. Renaissance Technologies LLC increased its holdings in OLO by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock worth $5,174,000 after purchasing an additional 171,700 shares during the period. Millennium Management LLC increased its holdings in OLO by 24.3% during the 2nd quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock worth $4,404,000 after purchasing an additional 194,735 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its holdings in OLO by 3.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock worth $4,815,000 after purchasing an additional 26,919 shares during the period. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Insider Buying and Selling

In related news, CRO Diego Panama sold 13,555 shares of the firm’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 $66,419.50. Following the transaction, the executive now owns 569,859 shares in the company, valued at approximately $2,792,309.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other OLO news, COO Joanna G. Lambert sold 67,403 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 transaction of $330,274.70. Following the completion of the sale, the chief operating officer now directly owns 591,646 shares of the company’s stock, valued at approximately $2,899,065.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the executive now directly owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The disclosure for this sale can be found here. Insiders have sold 113,148 shares of company stock worth $554,425 in the last quarter. 39.33% of the stock is owned by insiders.

OLO Stock Up 1.5 %

NYSE:OLO opened at $4.97 on Tuesday. The stock’s 50 day moving average price is $5.08 and its 200 day moving average price is $4.88. The company has a market capitalization of $804.88 million, a PE ratio of -17.12 and a beta of 1.28. Olo Inc. has a 52-week low of $4.20 and a 52-week 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, hitting analysts’ consensus estimates of $0.05. The firm had revenue of $70.50 million for the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) EPS. As a group, sell-side analysts anticipate that Olo Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Lake Street Capital increased their price objective on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com upgraded OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $8.00 price objective on shares of OLO in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

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.