American International Group Inc. Grows Stock Position in Olo Inc. (NYSE:OLO)

American International Group Inc. grew its holdings in shares of Olo Inc. (NYSE:OLO) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,801 shares of the company’s stock after buying an additional 6,397 shares during the quarter. American International Group Inc.’s holdings in OLO were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of OLO by 6.3% during the 1st quarter. Arizona State Retirement System now owns 27,628 shares of the company’s stock valued at $225,000 after buying an additional 1,649 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of OLO during the 2nd quarter valued at approximately $77,000. Portside Wealth Group LLC purchased a new position in shares of OLO during the 2nd quarter valued at approximately $8,804,000. Summit Global Investments purchased a new position in shares of OLO during the 2nd quarter valued at approximately $461,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of OLO by 50.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 84,558 shares of the company’s stock valued at $546,000 after buying an additional 28,502 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Piper Sandler reduced their target price on OLO from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, November 7th. Stifel Nicolaus upped their price target on OLO from $9.00 to $10.00 and gave the company a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank of Canada dropped their price target on OLO from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. StockNews.com began coverage on OLO in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, William Blair lowered OLO from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 7th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.25.

OLO Price Performance

Shares of NYSE OLO opened at $5.01 on Monday. Olo Inc. has a 1-year low of $4.25 and a 1-year high of $9.12. The business’s fifty day moving average price is $5.57 and its two-hundred day moving average price is $6.38. The firm has a market capitalization of $822.54 million, a PE ratio of -16.16 and a beta of 1.24.

Insiders Place Their Bets

In other OLO news, CRO Diego Panama sold 42,073 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $6.20, for a total value of $260,852.60. Following the sale, the executive now directly owns 595,162 shares of the company’s stock, valued at $3,690,004.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Noah H. Glass sold 8,855 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $6.20, for a total transaction of $54,901.00. Following the transaction, the chief executive officer now directly owns 293,691 shares of the company’s stock, valued at $1,820,884.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Diego Panama sold 42,073 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $6.20, for a total value of $260,852.60. Following the transaction, the executive now directly owns 595,162 shares in the company, valued at $3,690,004.40. The disclosure for this sale can be found here. Insiders have sold 71,815 shares of company stock valued at $445,159 over the last three months. Company insiders own 39.12% of the company’s stock.

About OLO

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.