Federated Hermes Inc. Acquires 6,442 Shares of Olo Inc. (NYSE:OLO)

Federated Hermes Inc. boosted its holdings in Olo Inc. (NYSE:OLO) by 644,200.0% during the second quarter, Holdings Channel reports. The fund owned 6,443 shares of the company’s stock after purchasing an additional 6,442 shares during the period. Federated Hermes Inc.’s holdings in OLO were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of OLO by 14.6% during the second quarter. American Century Companies Inc. now owns 150,640 shares of the company’s stock worth $666,000 after acquiring an additional 19,137 shares during the period. Acadian Asset Management LLC acquired a new stake in OLO during the 2nd quarter worth approximately $227,000. Rhumbline Advisers grew its holdings in OLO by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after buying an additional 4,979 shares in the last quarter. Conestoga Capital Advisors LLC grew its holdings in OLO by 30.6% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock valued at $1,372,000 after buying an additional 72,685 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of OLO during the second quarter worth $249,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at OLO

In other OLO news, CFO Peter J. Benevides sold 10,530 shares of OLO stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $51,597.00. Following the completion of the sale, the chief financial officer now directly owns 414,403 shares of the company’s stock, valued at $2,030,574.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other OLO news, CFO Peter J. Benevides sold 10,530 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $51,597.00. Following the completion of the sale, the chief financial officer now owns 414,403 shares in the company, valued at approximately $2,030,574.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock worth $554,425 in the last 90 days. Corporate insiders own 39.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OLO. Lake Street Capital boosted their price target on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Piper Sandler reiterated an “overweight” rating and set a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, OLO presently has an average rating of “Moderate Buy” and a consensus target price of $8.67.

OLO Trading Down 3.6 %

Shares of OLO stock opened at $4.87 on Thursday. The firm has a market capitalization of $789.48 million, a price-to-earnings ratio of -16.79 and a beta of 1.28. The business’s 50-day moving average price is $5.07 and its 200-day moving average price is $4.89. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $6.84.

OLO (NYSE:OLO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $70.50 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 27.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.04) earnings per share. On average, sell-side analysts predict 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.