The Manufacturers Life Insurance Company Sells 2,304 Shares of Olo Inc. (NYSE:OLO)

The Manufacturers Life Insurance Company decreased its stake in Olo Inc. (NYSE:OLO) by 5.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,484 shares of the company’s stock after selling 2,304 shares during the period. The Manufacturers Life Insurance Company’s holdings in OLO were worth $296,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Tandem Financial LLC purchased a new stake in OLO in the fourth quarter worth approximately $26,000. Global Retirement Partners LLC purchased a new stake in shares of OLO during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new position in shares of OLO in the fourth quarter worth approximately $35,000. Envestnet Asset Management Inc. bought a new position in shares of OLO in the fourth quarter worth approximately $80,000. Finally, Franklin Resources Inc. purchased a new stake in OLO in the 4th quarter worth approximately $81,000. 93.40% of the stock is currently owned by institutional investors.

OLO Trading Down 0.7%

Shares of OLO stock opened at $9.16 on Friday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -91.54 and a beta of 1.41. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $9.78. The stock’s 50-day moving average price is $6.69 and its 200-day moving average price is $6.97.

OLO (NYSE:OLO) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company had revenue of $80.68 million for the quarter, compared to analysts’ expectations of $77.47 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. OLO’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, research analysts predict that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Lake Street Capital raised their target price on OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

About OLO

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.