American Century Companies Inc. Purchases 19,137 Shares of Olo Inc. (NYSE:OLO)

American Century Companies Inc. lifted its position in Olo Inc. (NYSE:OLO) by 14.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 150,640 shares of the company’s stock after purchasing an additional 19,137 shares during the period. American Century Companies Inc. owned about 0.09% of OLO worth $666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in OLO. Diversified Trust Co lifted its position in 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 buying an additional 2,285 shares during the period. Allspring Global Investments Holdings LLC lifted its position in OLO by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock valued at $218,000 after buying an additional 3,340 shares during the period. Price T Rowe Associates Inc. MD lifted its position in OLO by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock valued at $265,000 after buying an additional 4,382 shares during the period. Rhumbline Advisers lifted its position in OLO by 3.3% during the second quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after buying an additional 4,979 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of OLO in the 1st quarter worth about $29,000. Institutional investors own 93.40% of the company’s stock.

Wall Street Analysts Forecast Growth

OLO has been the subject of several research analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price objective on shares of OLO in a report on Thursday, August 1st. StockNews.com raised OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Lake Street Capital increased their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Insider Buying and Selling

In related news, insider Sherri Manning sold 9,356 shares of OLO 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 completion of the sale, the insider now owns 148,414 shares of the company’s stock, valued at $727,228.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Noah H. Glass sold 10,423 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,072.70. Following the completion of the sale, the chief executive officer now directly owns 312,393 shares in the company, valued at $1,530,725.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sherri Manning sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 $727,228.60. The disclosure for this sale can be found here. Insiders sold 113,148 shares of company stock valued at $554,425 over the last quarter. 39.33% of the stock is currently owned by company insiders.

OLO Trading Down 1.2 %

Shares of OLO stock opened at $4.78 on Thursday. The firm has a market cap of $767.27 million, a P/E ratio of -16.48 and a beta of 1.27. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $6.84. The stock’s fifty day moving average price is $5.08 and its 200-day moving average price is $4.87.

OLO (NYSE:OLO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $70.50 million during the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. The company’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) earnings per share. Analysts forecast that Olo Inc. will post -0.06 earnings per share for the current year.

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.