OLO (NYSE:OLO) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a research report released on Friday.

OLO has been the subject of several other research reports. Lake Street Capital boosted their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $8.00 price objective on shares of OLO in a report on Thursday, August 1st.

OLO Trading Up 1.1 %

OLO stock opened at $7.25 on Friday. OLO has a 12-month low of $4.20 and a 12-month high of $7.47. The firm has a 50-day moving average price of $5.37 and a 200-day moving average price of $4.99. The firm has a market capitalization of $1.19 billion, a PE ratio of -72.49 and a beta of 1.26.

Insiders Place Their Bets

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 value of $66,419.50. Following the completion of the sale, the executive now directly owns 569,859 shares in the company, valued at $2,792,309.10. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joanna G. Lambert sold 67,403 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $330,274.70. Following the transaction, the chief operating officer now owns 591,646 shares in the company, valued at approximately $2,899,065.40. The trade was a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,148 shares of company stock worth $554,425 in the last three months. Corporate insiders own 39.33% of the company’s stock.

Institutional Trading of OLO

A number of hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its position in shares of OLO by 6.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after acquiring an additional 2,433 shares in the last quarter. MQS Management LLC raised its holdings in OLO by 15.9% in the third quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after purchasing an additional 3,898 shares in the last quarter. Creative Planning lifted its position in shares of OLO by 15.1% during the third quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after buying an additional 3,974 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of OLO by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock valued at $265,000 after buying an additional 4,382 shares in the last quarter. Finally, Point72 DIFC Ltd grew its position in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after buying an additional 4,964 shares during the last quarter. Hedge funds and other institutional investors own 93.40% 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.