Clearline Capital LP Buys 129,874 Shares of Olo Inc. (NYSE:OLO)

Clearline Capital LP boosted its stake in shares of Olo Inc. (NYSE:OLO) by 325.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,737 shares of the company’s stock after buying an additional 129,874 shares during the quarter. Clearline Capital LP owned approximately 0.11% of OLO worth $750,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Diversified Trust Co raised its stake in shares of OLO by 8.8% during the first quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock valued at $155,000 after acquiring an additional 2,285 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in OLO by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after purchasing an additional 2,433 shares during the period. Allspring Global Investments Holdings LLC raised its position in OLO by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock valued at $218,000 after purchasing an additional 3,340 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in OLO by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock valued at $265,000 after purchasing an additional 4,382 shares in the last quarter. Finally, Point72 DIFC Ltd lifted its holdings 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 period. 93.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Sherri Manning sold 9,356 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the sale, the insider now owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other OLO 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 value of $45,844.40. Following the completion of the sale, the insider now directly owns 148,414 shares in the company, valued at $727,228.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Diego Panama sold 13,555 shares of the business’s 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 sale, the executive now owns 569,859 shares in the company, valued at approximately $2,792,309.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is currently owned by insiders.

OLO Price Performance

Shares of NYSE OLO opened at $4.89 on Friday. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $6.84. The business has a fifty day moving average price of $5.07 and a 200 day moving average price of $4.88. The stock has a market capitalization of $792.72 million, a P/E ratio of -16.86 and a beta of 1.28.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $70.50 million for 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%. The company’s revenue was up 27.6% compared to the same quarter last year. During the same period last year, the business earned ($0.04) EPS. As a group, equities research analysts anticipate that Olo Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

OLO has been the topic of several research reports. Piper Sandler restated an “overweight” rating and set a $8.00 price target on shares of OLO in a research note on Thursday, August 1st. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Lake Street Capital boosted their price target on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a 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. According to data from MarketBeat.com, OLO currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

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.