Palogic Value Management L.P. Sells 395,000 Shares of Olo Inc. (NYSE:OLO)

Palogic Value Management L.P. trimmed its holdings in shares of Olo Inc. (NYSE:OLO) by 57.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 296,303 shares of the company’s stock after selling 395,000 shares during the quarter. Palogic Value Management L.P.’s holdings in OLO were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in OLO. Connor Clark & Lunn Investment Management Ltd. grew its position in 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 period. JPMorgan Chase & Co. grew its position in OLO by 220.4% during the third quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock valued at $2,770,000 after buying an additional 384,196 shares during the period. Globeflex Capital L P bought a new stake in OLO during the fourth quarter valued at approximately $2,552,000. Landscape Capital Management L.L.C. bought a new stake in OLO during the third quarter valued at approximately $1,600,000. Finally, Raymond James Financial Inc. bought a new stake in OLO during the fourth quarter valued at approximately $2,346,000. 93.40% of the stock is currently owned by institutional investors.

OLO Stock Performance

Shares of NYSE:OLO opened at $6.37 on Friday. The firm has a fifty day moving average price of $7.00 and a 200 day moving average price of $6.42. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -63.64 and a beta of 1.41.

OLO (NYSE:OLO) last issued its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share 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 company had revenue of $76.07 million for the quarter, compared to the consensus estimate of $72.76 million. As a group, research analysts predict that Olo Inc. will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upped their price target on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target on shares of OLO in a research report on Wednesday, January 8th.

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.