Olo Inc. (NYSE:OLO) Shares Sold by Palogic Value Management L.P.

Palogic Value Management L.P. cut its stake in Olo Inc. (NYSE:OLO) by 57.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,303 shares of the company’s stock after selling 395,000 shares during the period. Palogic Value Management L.P.’s holdings in OLO were worth $2,276,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in OLO in the 4th quarter worth about $5,181,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $15,611,000 after buying an additional 622,106 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of OLO by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company’s stock worth $112,814,000 after buying an additional 415,868 shares during the period. JPMorgan Chase & Co. grew its holdings in OLO by 220.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock worth $2,770,000 after buying an additional 384,196 shares in the last quarter. Finally, Prudential Financial Inc. acquired a new stake in OLO in the 4th quarter valued at approximately $2,840,000. 93.40% of the stock is currently owned by institutional investors.

OLO Stock Down 4.0 %

NYSE:OLO opened at $6.17 on Friday. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $8.35. The firm has a market cap of $1.02 billion, a P/E ratio of -61.64 and a beta of 1.41. The business’s 50-day moving average price is $6.87 and its 200 day moving average price is $6.47.

OLO (NYSE:OLO) last released its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. Sell-side analysts expect that Olo Inc. will post -0.03 EPS for the current year.

Analyst Ratings Changes

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

OLO Company 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.