Zimmer Partners LP Invests $1.35 Million in Olo Inc. (NYSE:OLO)

Zimmer Partners LP acquired a new position in shares of Olo Inc. (NYSE:OLO) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 51,000 shares of the company’s stock, valued at approximately $1,346,000.

Several other large investors have also added to or reduced their stakes in OLO. Caas Capital Management LP acquired a new stake in shares of OLO in the 1st quarter valued at about $3,299,000. Zevenbergen Capital Investments LLC acquired a new stake in shares of OLO in the 1st quarter valued at about $4,122,000. UBS Group AG acquired a new stake in shares of OLO in the 1st quarter valued at about $1,103,000. Pentwater Capital Management LP acquired a new stake in shares of OLO in the 1st quarter valued at about $794,000. Finally, US Bancorp DE acquired a new stake in shares of OLO in the 1st quarter valued at about $263,000. 47.07% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on OLO shares. Piper Sandler started coverage on OLO in a research report on Monday, April 12th. They issued an “overweight” rating and a $35.00 target price for the company. Stifel Nicolaus began coverage on OLO in a research report on Monday, April 12th. They issued a “hold” rating and a $27.00 target price for the company. The Goldman Sachs Group began coverage on OLO in a research note on Monday, April 12th. They set a “neutral” rating and a $28.00 price objective for the company. JPMorgan Chase & Co. began coverage on OLO in a research note on Monday, April 12th. They set an “overweight” rating and a $36.00 price objective for the company. Finally, William Blair began coverage on OLO in a research note on Monday, April 12th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.00.

Shares of OLO stock traded up $0.84 during trading hours on Thursday, reaching $37.99. 1,085 shares of the company’s stock were exchanged, compared to its average volume of 462,917. The business’s 50 day simple moving average is $34.59. Olo Inc. has a 1 year low of $22.88 and a 1 year high of $44.89.

OLO (NYSE:OLO) last issued its earnings results on Tuesday, May 11th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.02. The business had revenue of $36.12 million for the quarter, compared to analysts’ expectations of $31.59 million. Analysts expect that Olo Inc. will post -0.07 earnings per share for the current year.

OLO Company Profile

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.

Further Reading: What is the Coverage Ratio?

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Institutional Ownership by Quarter for OLO (NYSE:OLO)

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