Y Intercept Hong Kong Ltd Decreases Holdings in Olo Inc. (NYSE:OLO)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Olo Inc. (NYSE:OLO) by 46.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,022 shares of the company’s stock after selling 59,175 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in OLO were worth $522,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Tandem Financial LLC purchased a new stake in shares of OLO during the 4th quarter valued at about $26,000. Global Retirement Partners LLC bought a new position in OLO during the 4th quarter valued at about $27,000. Point72 Asset Management L.P. bought a new position in OLO during the 3rd quarter valued at about $74,000. Benjamin Edwards Inc. bought a new position in OLO during the 3rd quarter valued at about $91,000. Finally, Intech Investment Management LLC bought a new position in OLO during the 3rd quarter valued at about $100,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Price Performance

Shares of OLO stock opened at $6.88 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of -68.82 and a beta of 1.41. The company’s 50-day simple moving average is $7.40 and its two-hundred day simple moving average is $6.33. Olo Inc. has a one year low of $4.20 and a one year high of $8.35.

OLO (NYSE:OLO) last issued 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). The company had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. On average, research analysts expect that Olo Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on OLO shares. Piper Sandler reiterated a “neutral” rating and set a $8.00 price target on shares of OLO in a report on Wednesday, January 8th. StockNews.com downgraded shares of OLO from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Royal Bank of Canada upped their price target on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd.

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.