Connor Clark & Lunn Investment Management Ltd. Acquires 622,106 Shares of Olo Inc. (NYSE:OLO)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Olo Inc. (NYSE:OLO) by 44.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,032,634 shares of the company’s stock after acquiring an additional 622,106 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in OLO were worth $15,611,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AlphaQuest LLC purchased a new stake in OLO during the 4th quarter valued at $501,000. Amundi increased its position in OLO by 93.0% during the fourth quarter. Amundi now owns 14,740 shares of the company’s stock valued at $112,000 after acquiring an additional 7,101 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of OLO in the fourth quarter valued at $2,346,000. Arizona State Retirement System boosted its stake in shares of OLO by 5.1% during the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock worth $233,000 after purchasing an additional 1,464 shares during the period. Finally, Aigen Investment Management LP boosted its stake in shares of OLO by 66.9% during the 4th quarter. Aigen Investment Management LP now owns 44,526 shares of the company’s stock worth $342,000 after purchasing an additional 17,855 shares during the period. 93.40% of the stock is owned by institutional investors.

OLO Price Performance

Shares of OLO opened at $6.03 on Friday. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -60.24 and a beta of 1.41. The company has a 50-day moving average of $7.16 and a 200 day moving average of $6.38. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $8.35.

OLO (NYSE:OLO) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $76.07 million for the quarter, compared to the consensus estimate of $72.76 million. On average, equities analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OLO shares. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target on shares of OLO in a report on Wednesday, January 8th. Finally, Royal Bank of Canada boosted their price objective on 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.