Graham Capital Management L.P. Acquires New Holdings in Olo Inc. (NYSE:OLO)

Graham Capital Management L.P. purchased a new stake in Olo Inc. (NYSE:OLO) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 72,165 shares of the company’s stock, valued at approximately $554,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OLO. Driehaus Capital Management LLC acquired a new position in OLO in the 4th quarter valued at approximately $9,691,000. Arrowstreet Capital Limited Partnership increased its position in shares of OLO by 138.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company’s stock worth $14,561,000 after buying an additional 1,100,307 shares during the period. Norges Bank acquired a new stake in shares of OLO during the fourth quarter worth $5,181,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of OLO by 44.1% during the fourth 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 during the period. Finally, Federated Hermes Inc. increased its position in shares of OLO by 6,935.0% during the fourth quarter. Federated Hermes Inc. now owns 556,470 shares of the company’s stock worth $4,274,000 after buying an additional 548,560 shares during the period. 93.40% of the stock is currently owned by institutional investors and hedge funds.

OLO Price Performance

OLO opened at $9.23 on Friday. The firm has a market capitalization of $1.53 billion, a P/E ratio of -92.29 and a beta of 1.41. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.78. The company’s 50-day moving average is $6.63 and its 200 day moving average is $6.92.

OLO (NYSE:OLO) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 earnings per share. On average, equities research analysts expect that Olo Inc. will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

OLO has been the subject of several recent analyst reports. StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Lake Street Capital raised their price target on shares of OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

OLO Company Profile

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.