AQR Capital Management LLC Has $613,000 Stake in Olo Inc. (NYSE:OLO)

AQR Capital Management LLC raised its stake in shares of Olo Inc. (NYSE:OLO) by 396.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 138,741 shares of the company’s stock after acquiring an additional 110,793 shares during the quarter. AQR Capital Management LLC’s holdings in OLO were worth $613,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Virtu Financial LLC acquired a new stake in shares of OLO in the fourth quarter valued at about $174,000. Quadrature Capital Ltd raised its position in OLO by 39.3% in the fourth quarter. Quadrature Capital Ltd now owns 50,394 shares of the company’s stock worth $288,000 after purchasing an additional 14,212 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in OLO by 419.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 306,100 shares of the company’s stock valued at $1,680,000 after buying an additional 247,194 shares in the last quarter. Diversified Trust Co lifted its holdings in OLO by 8.8% during the 1st quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock valued at $155,000 after purchasing an additional 2,285 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew 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 worth $218,000 after acquiring an additional 3,340 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on OLO. Piper Sandler reissued an “overweight” rating and set a $8.00 price objective on shares of OLO in a report on Thursday, August 1st. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Finally, Lake Street Capital boosted their price target on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.67.

OLO Stock Performance

Shares of NYSE OLO opened at $4.76 on Monday. The company’s 50 day moving average price is $5.05 and its 200-day moving average price is $4.83. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $6.84. The company has a market capitalization of $764.06 million, a P/E ratio of -16.41 and a beta of 1.27.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 in the previous year, the business earned ($0.04) EPS. Analysts forecast that Olo Inc. will post -0.06 earnings per share for the current year.

Insider Transactions at OLO

In other OLO news, insider Sherri Manning sold 9,356 shares of the stock in a transaction dated 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 in the company, valued at approximately $727,228.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other OLO 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 directly owns 148,414 shares of the company’s stock, valued at $727,228.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Diego Panama sold 13,555 shares of the business’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 $66,419.50. Following the completion of the sale, the executive now owns 569,859 shares in the company, valued at $2,792,309.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,148 shares of company stock worth $554,425 in the last quarter. 39.33% of the stock is currently owned by corporate insiders.

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.