SG Americas Securities LLC Buys 13,155 Shares of Olo Inc. (NYSE:OLO)

SG Americas Securities LLC raised its stake in Olo Inc. (NYSE:OLO) by 48.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,316 shares of the company’s stock after purchasing an additional 13,155 shares during the period. SG Americas Securities LLC’s holdings in OLO were worth $231,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OLO. Advisor Group Holdings Inc. increased its stake in OLO by 43.6% in the first quarter. Advisor Group Holdings Inc. now owns 13,657 shares of the company’s stock valued at $182,000 after purchasing an additional 4,144 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of OLO by 50.1% during the first quarter. JPMorgan Chase & Co. now owns 499,588 shares of the company’s stock worth $6,619,000 after acquiring an additional 166,839 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of OLO by 2,469.3% during the first quarter. Bank of New York Mellon Corp now owns 713,763 shares of the company’s stock worth $9,458,000 after acquiring an additional 685,983 shares in the last quarter. HighTower Advisors LLC increased its position in shares of OLO by 12.3% during the first quarter. HighTower Advisors LLC now owns 16,036 shares of the company’s stock worth $213,000 after acquiring an additional 1,758 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of OLO by 130.0% during the first quarter. Citigroup Inc. now owns 12,328 shares of the company’s stock worth $163,000 after acquiring an additional 6,969 shares in the last quarter. 93.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OLO shares. Piper Sandler boosted their target price on shares of OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Lake Street Capital started coverage on shares of OLO in a research report on Friday, December 15th. They set a “buy” rating and a $7.50 target price for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, OLO presently has a consensus rating of “Moderate Buy” and an average price target of $9.10.

OLO Stock Performance

OLO stock opened at $5.16 on Friday. Olo Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $8.84. The stock has a market cap of $835.40 million, a PE ratio of -14.33 and a beta of 1.28. The firm’s 50-day simple moving average is $5.57 and its 200 day simple moving average is $5.48.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The business had revenue of $63.00 million for the quarter, compared to analysts’ expectations of $58.91 million. During the same period in the previous year, the company earned ($0.03) earnings per share. The firm’s revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, analysts predict that Olo Inc. will post -0.1 EPS for the current fiscal year.

OLO Company Profile

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.