Rice Hall James & Associates LLC Cuts Stake in Olo Inc. (NYSE:OLO)

Rice Hall James & Associates LLC lessened its position in Olo Inc. (NYSE:OLO) by 0.4% in the 1st quarter, Holdings Channel reports. The fund owned 533,389 shares of the company’s stock after selling 1,876 shares during the period. Rice Hall James & Associates LLC’s holdings in OLO were worth $3,222,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SMI Advisory Services LLC purchased a new position in OLO during the first quarter worth about $62,000. Calamos Advisors LLC acquired a new position in OLO during the 1st quarter worth approximately $63,000. Envestnet Asset Management Inc. purchased a new position in shares of OLO during the 4th quarter worth approximately $80,000. Franklin Resources Inc. acquired a new stake in shares of OLO in the 4th quarter valued at approximately $81,000. Finally, TFJ Management LLC purchased a new stake in shares of OLO in the fourth quarter valued at approximately $107,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Wall Street Analyst Weigh In

OLO has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $10.25 price objective on shares of OLO in a research report on Monday, July 7th. Truist Financial downgraded shares of OLO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 8th. Lake Street Capital cut shares of OLO from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Wall Street Zen cut shares of OLO from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Finally, Piper Sandler lifted their price target on shares of OLO from $8.00 to $10.25 and gave the company a “neutral” rating in a research report on Monday, July 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.17.

OLO Stock Up 0.0%

Shares of OLO stock opened at $10.13 on Tuesday. The stock has a market cap of $1.68 billion, a P/E ratio of 506.50 and a beta of 1.57. Olo Inc. has a fifty-two week low of $4.53 and a fifty-two week high of $10.15. The business has a fifty day simple moving average of $8.95 and a 200-day simple moving average of $7.55.

OLO (NYSE:OLO) last posted its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.01. OLO had a net margin of 1.09% and a return on equity of 1.46%. The firm had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. During the same period last year, the firm posted $0.05 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, sell-side analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current year.

Insider Activity at OLO

In other OLO news, CEO Noah H. Glass sold 10,152 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,337.60. Following the sale, the chief executive officer directly owned 278,202 shares of the company’s stock, valued at $2,448,177.60. This trade represents a 3.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter J. Benevides sold 23,078 shares of OLO stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $203,086.40. Following the sale, the chief financial officer owned 702,061 shares of the company’s stock, valued at approximately $6,178,136.80. This trade represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,630 shares of company stock valued at $864,454 in the last ninety days. 39.33% of the stock is owned by insiders.

OLO 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.