Acadian Asset Management LLC Invests $227,000 in Olo Inc. (NYSE:OLO)

Acadian Asset Management LLC bought a new stake in Olo Inc. (NYSE:OLO) in the second quarter, Holdings Channel.com reports. The firm bought 51,609 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. purchased a new stake in OLO during the 1st quarter valued at about $29,000. Rockport Wealth LLC acquired a new stake in shares of OLO in the first quarter valued at approximately $55,000. Victory Capital Management Inc. lifted its position in OLO by 29.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after buying an additional 3,219 shares in the last quarter. SYSTM Wealth Solutions LLC purchased a new position in OLO during the first quarter worth approximately $106,000. Finally, Diversified Trust Co boosted its stake in OLO by 8.8% during the first quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock worth $155,000 after buying an additional 2,285 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Sherri Manning sold 9,356 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the transaction, the insider now owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Sherri Manning sold 9,356 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 $45,844.40. Following the transaction, the insider now owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Peter J. Benevides sold 10,530 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $51,597.00. Following the transaction, the chief financial officer now owns 414,403 shares of the company’s stock, valued at $2,030,574.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,148 shares of company stock valued at $554,425. Company insiders own 39.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on OLO shares. Piper Sandler reaffirmed an “overweight” rating and issued a $8.00 target price on shares of OLO in a research note on Thursday, August 1st. Lake Street Capital raised their price objective on shares of 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 shares of OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.67.

OLO Price Performance

NYSE:OLO opened at $5.17 on Friday. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $6.84. The stock’s fifty day moving average is $5.05 and its two-hundred day moving average is $4.92. The company has a market capitalization of $829.87 million, a P/E ratio of -18.07 and a beta of 1.28.

OLO (NYSE:OLO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $70.50 million for the quarter, compared to analyst estimates of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. OLO’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. Sell-side analysts anticipate that Olo Inc. will post -0.06 earnings per share for the current fiscal year.

About OLO

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.