Algert Global LLC Acquires 378,368 Shares of Olo Inc. (NYSE:OLO)

Algert Global LLC grew its holdings in Olo Inc. (NYSE:OLO) by 114.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 710,319 shares of the company’s stock after acquiring an additional 378,368 shares during the quarter. Algert Global LLC owned 0.44% of OLO worth $3,140,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in OLO by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 844,471 shares of the company’s stock valued at $4,830,000 after buying an additional 23,067 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of OLO by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock worth $19,512,000 after buying an additional 416,851 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of OLO by 64.3% during the 4th quarter. CenterBook Partners LP now owns 766,564 shares of the company’s stock worth $4,385,000 after buying an additional 300,041 shares during the period. Palogic Value Management L.P. bought a new position in OLO in the 4th quarter valued at about $2,917,000. Finally, Virtu Financial LLC acquired a new stake in OLO during the fourth quarter worth approximately $174,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Insider Transactions at OLO

In related news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Joanna G. Lambert sold 67,403 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $330,274.70. Following the completion of the transaction, the chief operating officer now owns 591,646 shares of the company’s stock, valued at $2,899,065.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $66,419.50. Following the sale, the executive now directly owns 569,859 shares in the company, valued at $2,792,309.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,148 shares of company stock valued at $554,425. Company insiders own 39.33% of the company’s stock.

OLO Price Performance

Shares of NYSE:OLO opened at $4.84 on Wednesday. The company has a market capitalization of $784.61 million, a P/E ratio of -16.69 and a beta of 1.28. The business’s 50 day simple moving average is $5.08 and its 200 day simple moving average is $4.87. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $6.84.

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

Wall Street Analysts Forecast Growth

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

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.