OLO (NYSE:OLO) Upgraded to “Buy” at StockNews.com

OLO (NYSE:OLO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

OLO Stock Performance

Shares of OLO stock traded up $0.03 during mid-day trading on Monday, hitting $7.32. The company’s stock had a trading volume of 2,056,648 shares, compared to its average volume of 1,039,547. The company has a market cap of $1.20 billion, a PE ratio of -73.20 and a beta of 1.26. The company’s fifty day simple moving average is $5.54 and its 200-day simple moving average is $5.06. OLO has a 52 week low of $4.20 and a 52 week high of $7.47.

Insiders Place Their Bets

In related news, insider Sherri Manning sold 9,356 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the sale, the insider now directly owns 148,414 shares of the company’s stock, valued at $727,228.60. The trade was a 5.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Peter J. Benevides sold 10,530 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,597.00. Following the completion of the transaction, the chief financial officer now owns 414,403 shares in the company, valued at approximately $2,030,574.70. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,148 shares of company stock worth $554,425. Corporate insiders own 39.33% of the company’s stock.

Institutional Investors Weigh In On OLO

Several institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in shares of OLO by 6.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after acquiring an additional 2,433 shares in the last quarter. MQS Management LLC grew its position in OLO by 15.9% in the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after purchasing an additional 3,898 shares in the last quarter. Creative Planning increased its stake in OLO by 15.1% in the 3rd quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after buying an additional 3,974 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of OLO by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock worth $265,000 after buying an additional 4,382 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its position in OLO by 52.7% in the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after purchasing an additional 4,964 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

OLO Company Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company’s platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands’ on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants’ direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.