Laurus Global Equity Management Inc. Boosts Holdings in Olo Inc. $OLO

Laurus Global Equity Management Inc. grew its position in Olo Inc. (NYSE:OLO) by 72.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 120,910 shares of the company’s stock after purchasing an additional 50,680 shares during the quarter. Laurus Global Equity Management Inc.’s holdings in OLO were worth $1,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amanah Holdings Trust purchased a new position in shares of OLO in the second quarter worth $3,382,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of OLO by 20.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,173 shares of the company’s stock valued at $1,269,000 after acquiring an additional 27,496 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of OLO by 104.3% in the first quarter. Principal Financial Group Inc. now owns 199,874 shares of the company’s stock worth $1,207,000 after acquiring an additional 102,063 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of OLO during the first quarter valued at approximately $265,000. Finally, Vanguard Group Inc. lifted its position in OLO by 2.7% during the first quarter. Vanguard Group Inc. now owns 15,090,745 shares of the company’s stock valued at $91,148,000 after purchasing an additional 401,364 shares during the period. 93.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $10.25 target price on shares of OLO in a research report on Monday, July 7th. Truist Financial downgraded OLO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 8th. Lake Street Capital cut OLO from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Piper Sandler upped their price target on shares of OLO from $8.00 to $10.25 and gave the company a “neutral” rating in a research report on Monday, July 7th. Finally, Wall Street Zen cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, OLO currently has a consensus rating of “Hold” and a consensus target price of $10.17.

OLO Stock Performance

NYSE OLO opened at $10.26 on Monday. The business’s fifty day moving average is $10.27 and its 200 day moving average is $8.84. Olo Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $10.55. The company has a market capitalization of $1.74 billion, a PE ratio of 28.50 and a beta of 1.58.

OLO (NYSE:OLO) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). OLO had a positive return on equity of 2.13% and a negative net margin of 0.28%.The company had revenue of $85.72 million during the quarter, compared to the consensus estimate of $82.23 million. During the same period last year, the business earned $0.05 EPS. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. On average, sell-side analysts forecast that Olo Inc. will post -0.03 EPS for the current year.

Insider Activity at OLO

In other OLO news, insider Robert Morvillo sold 10,736 shares of OLO stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $10.25, for a total transaction of $110,044.00. Following the transaction, the insider owned 375,780 shares of the company’s stock, valued at $3,851,745. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Joanna G. Lambert sold 38,275 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $10.25, for a total transaction of $392,318.75. Following the completion of the transaction, the chief operating officer owned 886,871 shares of the company’s stock, valued at approximately $9,090,427.75. The trade was a 4.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,623 shares of company stock worth $1,041,336 in the last 90 days. Insiders own 38.41% of the company’s stock.

About OLO

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.