Walleye Capital LLC Invests $1.44 Million in Olo Inc. (NYSE:OLO)

Walleye Capital LLC acquired a new stake in shares of Olo Inc. (NYSE:OLO) during the third quarter, HoldingsChannel reports. The fund acquired 289,786 shares of the company’s stock, valued at approximately $1,437,000.

Several other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. boosted its position in OLO by 644,200.0% during the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after acquiring an additional 6,442 shares in the last quarter. Wallace Advisory Group LLC purchased a new stake in shares of OLO during the 2nd quarter worth $57,000. Point72 DIFC Ltd boosted its position in OLO by 52.7% during the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after purchasing an additional 4,964 shares in the last quarter. SPC Financial Inc. purchased a new position in OLO in the third quarter valued at about $65,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in OLO by 230.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 17,532 shares of the company’s stock worth $77,000 after purchasing an additional 12,225 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Trading Down 1.6 %

Shares of OLO opened at $7.21 on Friday. The firm has a market cap of $1.18 billion, a PE ratio of -72.10 and a beta of 1.46. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $7.47. The stock has a fifty day moving average price of $5.68 and a 200-day moving average price of $5.11.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a report on Monday.

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.