UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Stock Holdings in Olo Inc. (NYSE:OLO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Olo Inc. (NYSE:OLO) by 20.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,677 shares of the company’s stock after selling 36,050 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in OLO were worth $683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. raised its position in OLO by 52.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after purchasing an additional 487,919 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of OLO by 17.2% during the second quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock worth $5,174,000 after buying an additional 171,700 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of OLO by 14.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock worth $5,049,000 after buying an additional 127,569 shares during the period. Millennium Management LLC raised its holdings in OLO by 24.3% in the second quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock valued at $4,404,000 after acquiring an additional 194,735 shares in the last quarter. Finally, Algert Global LLC raised its holdings in OLO by 9.6% in the third quarter. Algert Global LLC now owns 778,395 shares of the company’s stock valued at $3,861,000 after acquiring an additional 68,076 shares in the last quarter. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Price Performance

OLO stock opened at $7.64 on Friday. The stock has a market cap of $1.25 billion, a PE ratio of -76.39 and a beta of 1.46. The stock’s fifty day moving average is $6.31 and its two-hundred day moving average is $5.33. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $8.18.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th.

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.