StoneX Group Inc. Invests $776,000 in Olo Inc. (NYSE:OLO)

StoneX Group Inc. bought a new stake in Olo Inc. (NYSE:OLO) during the 4th quarter, HoldingsChannel reports. The fund bought 100,978 shares of the company’s stock, valued at approximately $776,000.

Several other hedge funds have also recently added to or reduced their stakes in OLO. Arrowstreet Capital Limited Partnership grew its stake in shares of OLO by 138.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company’s stock worth $14,561,000 after purchasing an additional 1,100,307 shares in the last quarter. Norges Bank acquired a new position in OLO during the 4th quarter valued at about $5,181,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of OLO by 44.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company’s stock worth $15,611,000 after buying an additional 622,106 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of OLO by 544.8% during the 4th quarter. Alliancebernstein L.P. now owns 558,290 shares of the company’s stock worth $4,288,000 after buying an additional 471,700 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of OLO by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company’s stock worth $112,814,000 after acquiring an additional 415,868 shares during the period. Institutional investors own 93.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler reissued a “neutral” rating and set a $8.00 target price on shares of OLO in a report on Wednesday, January 8th. Royal Bank of Canada upped their price objective on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th.

OLO Stock Performance

NYSE OLO opened at $6.19 on Thursday. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $8.35. The business’s fifty day moving average is $6.78 and its two-hundred day moving average is $6.51. The stock has a market capitalization of $1.03 billion, a P/E ratio of -61.89 and a beta of 1.41.

OLO (NYSE:OLO) last announced its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company had revenue of $76.07 million for the quarter, compared to analysts’ expectations of $72.76 million. On average, research analysts forecast that Olo Inc. will post -0.03 earnings per share for the current year.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.