65,235 Shares in Olo Inc. (NYSE:OLO) Purchased by AlphaQuest LLC

AlphaQuest LLC acquired a new position in shares of Olo Inc. (NYSE:OLO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 65,235 shares of the company’s stock, valued at approximately $501,000.

A number of other large investors have also added to or reduced their stakes in OLO. Connor Clark & Lunn Investment Management Ltd. increased its holdings in OLO by 52.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock worth $6,996,000 after buying an additional 487,919 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in OLO by 220.4% during the third 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 during the last quarter. Landscape Capital Management L.L.C. bought a new position in OLO during the third quarter worth about $1,600,000. Raymond James Financial Inc. bought a new position in OLO during the fourth quarter worth about $2,346,000. Finally, Walleye Capital LLC bought a new position in OLO during the third quarter worth about $1,437,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Trading Up 3.9 %

OLO stock opened at $6.32 on Thursday. The firm has a 50 day moving average of $7.19 and a 200-day moving average of $6.38. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $8.35. The firm has a market capitalization of $1.05 billion, a P/E ratio of -63.16 and a beta of 1.41.

OLO (NYSE:OLO) last released its quarterly earnings data 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 negative net margin of 5.89% and a positive return on equity of 0.34%. The firm had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. Sell-side analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OLO. Royal Bank of Canada increased their target price 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 upgraded shares of OLO from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Piper Sandler reiterated a “neutral” rating and set a $8.00 target price on shares of OLO in a research report on Wednesday, January 8th.

About OLO

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.