Arrowstreet Capital Limited Partnership Acquires 1,100,307 Shares of Olo Inc. (NYSE:OLO)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Olo Inc. (NYSE:OLO) by 138.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,895,935 shares of the company’s stock after purchasing an additional 1,100,307 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.16% of OLO worth $14,561,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in OLO. Vanguard Group Inc. boosted its position in OLO by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company’s stock valued at $112,814,000 after buying an additional 415,868 shares during the period. Geode Capital Management LLC boosted its holdings in OLO by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock valued at $12,130,000 after acquiring an additional 42,318 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in OLO by 44.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company’s stock worth $15,611,000 after acquiring an additional 622,106 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in OLO by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company’s stock worth $7,960,000 after purchasing an additional 18,474 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in OLO by 24.7% in the fourth quarter. JPMorgan Chase & Co. now owns 696,664 shares of the company’s stock valued at $5,350,000 after purchasing an additional 138,157 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Stock Down 0.3 %

Shares of OLO stock opened at $5.86 on Friday. The business has a 50 day moving average of $6.72 and a 200 day moving average of $6.52. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $8.35. The company has a market cap of $972.02 million, a PE ratio of -58.54 and a beta of 1.42.

OLO (NYSE:OLO) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate 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 anticipate that Olo Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OLO. Piper Sandler restated a “neutral” rating and issued a $8.00 target price on shares of OLO in a report on Wednesday, January 8th. StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, Royal Bank of Canada upped their price objective on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd.

OLO Company 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.