Federated Hermes Inc. Purchases 548,560 Shares of Olo Inc. (NYSE:OLO)

Federated Hermes Inc. increased its holdings in Olo Inc. (NYSE:OLO) by 6,935.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 556,470 shares of the company’s stock after acquiring an additional 548,560 shares during the period. Federated Hermes Inc.’s holdings in OLO were worth $4,274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of OLO. FMR LLC raised its holdings in shares of OLO by 1,850.5% in the 3rd quarter. FMR LLC now owns 22,021 shares of the company’s stock worth $109,000 after purchasing an additional 20,892 shares during the period. Point72 Asset Management L.P. purchased a new stake in OLO in the third quarter worth $74,000. Jane Street Group LLC raised its stake in shares of OLO by 37.0% in the third quarter. Jane Street Group LLC now owns 151,490 shares of the company’s stock valued at $751,000 after buying an additional 40,943 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of OLO during the 3rd quarter valued at $159,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of OLO during the 3rd quarter worth $631,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Stock Up 1.1 %

OLO stock opened at $6.17 on Friday. The firm has a fifty day simple moving average of $6.54 and a two-hundred day simple moving average of $6.57. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $8.35. The company has a market capitalization of $1.02 billion, a PE ratio of -61.64 and a beta of 1.42.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $8.00 price target on shares of OLO in a research report on Wednesday, January 8th. StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada increased their target price on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd.

OLO Profile

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.