Intech Investment Management LLC Makes New Investment in Olo Inc. (NYSE:OLO)

Intech Investment Management LLC bought a new position in Olo Inc. (NYSE:OLO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 20,216 shares of the company’s stock, valued at approximately $100,000.

Several other hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in OLO by 52.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock worth $6,996,000 after purchasing an additional 487,919 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of OLO by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock worth $5,174,000 after acquiring an additional 171,700 shares in the last quarter. Millennium Management LLC boosted its stake in shares of OLO by 24.3% during the 2nd quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock worth $4,404,000 after acquiring an additional 194,735 shares in the last quarter. Algert Global LLC boosted its stake in shares of OLO by 114.0% during the 2nd quarter. Algert Global LLC now owns 710,319 shares of the company’s stock worth $3,140,000 after acquiring an additional 378,368 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of OLO by 154.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock worth $2,510,000 after acquiring an additional 344,676 shares in the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded OLO from a “hold” rating to a “buy” rating in a research note on Monday, December 2nd.

OLO Stock Up 4.3 %

Shares of NYSE:OLO opened at $7.52 on Friday. The business has a 50 day moving average price of $5.78 and a 200 day moving average price of $5.14. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $7.56. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -75.19 and a beta of 1.46.

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.