Cerity Partners OCIO LLC Makes New Investment in Olo Inc. (NYSE:OLO)

Cerity Partners OCIO LLC bought a new position in Olo Inc. (NYSE:OLO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,616 shares of the company’s stock, valued at approximately $166,000. OLO comprises about 0.0% of Cerity Partners OCIO LLC’s portfolio, making the stock its 23rd largest position.

A number of other large investors also recently modified their holdings of the stock. Tandem Financial LLC acquired a new position in OLO in the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC bought a new position in shares of OLO in the 4th quarter worth $27,000. SBI Securities Co. Ltd. acquired a new stake in shares of OLO during the fourth quarter worth $35,000. Point72 Asset Management L.P. acquired a new stake in shares of OLO during the third quarter worth $74,000. Finally, Envestnet Asset Management Inc. bought a new stake in OLO in the fourth quarter valued at about $80,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

OLO Trading Down 0.3 %

Shares of NYSE OLO opened at $5.86 on Friday. The company has a fifty day moving average price of $6.72 and a 200 day moving average price of $6.53. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $8.35. The firm has a market cap of $972.02 million, a PE ratio of -58.54 and a beta of 1.42.

OLO (NYSE:OLO) last released its earnings results on Tuesday, February 25th. The company reported $0.01 EPS 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 firm had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. Equities research analysts forecast that Olo Inc. will post -0.03 EPS for the current year.

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.