Benjamin F. Edwards & Company Inc. Grows Stock Holdings in Olo Inc. (NYSE:OLO)

Benjamin F. Edwards & Company Inc. boosted its holdings in Olo Inc. (NYSE:OLO) by 230.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,532 shares of the company’s stock after buying an additional 12,225 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in OLO were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. MQS Management LLC grew its stake in OLO by 47.4% in the 2nd quarter. MQS Management LLC now owns 24,465 shares of the company’s stock valued at $108,000 after buying an additional 7,866 shares in the last quarter. XTX Topco Ltd purchased a new position in OLO in the 2nd quarter valued at approximately $129,000. Hsbc Holdings PLC grew its stake in OLO by 134.7% in the 2nd quarter. Hsbc Holdings PLC now owns 27,091 shares of the company’s stock valued at $117,000 after buying an additional 15,548 shares in the last quarter. Renaissance Technologies LLC grew its stake in OLO by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after buying an additional 171,700 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of OLO by 644,200.0% during the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after purchasing an additional 6,442 shares in the last quarter. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on OLO shares. Lake Street Capital boosted their price target on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler restated an “overweight” rating and set a $8.00 price target on shares of OLO in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, OLO currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.67.

OLO Stock Performance

NYSE OLO opened at $4.89 on Friday. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $6.84. The company has a market capitalization of $784.93 million, a P/E ratio of -16.86 and a beta of 1.28. The company has a fifty day moving average of $5.07 and a 200-day moving average of $4.89.

OLO (NYSE:OLO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The business had revenue of $70.50 million during the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. As a group, analysts forecast that Olo Inc. will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sherri Manning sold 9,356 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the transaction, the insider now directly owns 148,414 shares of the company’s stock, valued at $727,228.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Sherri Manning sold 9,356 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the transaction, the insider now directly owns 148,414 shares of the company’s stock, valued at $727,228.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Noah H. Glass sold 10,423 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $51,072.70. Following the transaction, the chief executive officer now owns 312,393 shares in the company, valued at approximately $1,530,725.70. The disclosure for this sale can be found here. Insiders sold 113,148 shares of company stock valued at $554,425 over the last three months. Insiders own 39.33% 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.