Steward Partners Investment Advisory LLC Sells 6,453 Shares of Olo Inc. (NYSE:OLO)

Steward Partners Investment Advisory LLC lessened its position in shares of Olo Inc. (NYSE:OLOGet Rating) by 36.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,183 shares of the company’s stock after selling 6,453 shares during the period. Steward Partners Investment Advisory LLC’s holdings in OLO were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. HWG Holdings LP bought a new stake in OLO during the 4th quarter worth approximately $27,000. Geneos Wealth Management Inc. purchased a new position in OLO in the 4th quarter worth approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in OLO in the 4th quarter worth approximately $129,000. Cross Creek Advisors LLC purchased a new position in OLO in the 4th quarter worth approximately $202,000. Finally, Shell Asset Management Co. purchased a new position in OLO in the 4th quarter worth approximately $151,000. Institutional investors own 75.26% of the company’s stock.

OLO Stock Performance

Shares of OLO stock opened at $11.00 on Tuesday. Olo Inc. has a 52-week low of $8.11 and a 52-week high of $49.00. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -61.11 and a beta of 1.24. The company has a fifty day moving average of $10.58 and a 200-day moving average of $12.43.

OLO (NYSE:OLOGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $42.80 million during the quarter, compared to analysts’ expectations of $41.66 million. OLO had a negative net margin of 17.52% and a negative return on equity of 3.09%. OLO’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period last year, the company posted ($0.01) EPS. On average, equities research analysts forecast that Olo Inc. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at OLO

In other OLO news, insider Marty D. Hahnfeld sold 21,836 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $10.53, for a total transaction of $229,933.08. Following the completion of the sale, the insider now owns 603,292 shares of the company’s stock, valued at approximately $6,352,664.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other OLO news, CEO Noah H. Glass sold 3,726 shares of the stock in a transaction on Monday, June 6th. The shares were sold at an average price of $10.87, for a total transaction of $40,501.62. Following the completion of the sale, the chief executive officer now owns 142,051 shares of the company’s stock, valued at approximately $1,544,094.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marty D. Hahnfeld sold 21,836 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $10.53, for a total transaction of $229,933.08. Following the sale, the insider now directly owns 603,292 shares of the company’s stock, valued at approximately $6,352,664.76. The disclosure for this sale can be found here. Insiders sold 29,655 shares of company stock valued at $314,926 in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com cut shares of OLO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Piper Sandler cut their price target on shares of OLO from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. William Blair reissued an “outperform” rating on shares of OLO in a research note on Wednesday, May 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of OLO from $26.00 to $21.00 in a research note on Friday, June 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.60.

OLO Profile

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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 Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants' point-of-sale and systems.

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Institutional Ownership by Quarter for OLO (NYSE:OLO)

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