Voya Investment Management LLC Increases Position in Olo Inc. $OLO

Voya Investment Management LLC raised its holdings in shares of Olo Inc. (NYSE:OLO) by 66.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,683 shares of the company’s stock after acquiring an additional 22,616 shares during the quarter. Voya Investment Management LLC’s holdings in OLO were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Calamos Advisors LLC acquired a new stake in shares of OLO during the 1st quarter worth about $63,000. SMI Advisory Services LLC bought a new stake in shares of OLO in the first quarter worth $62,000. Corton Capital Inc. acquired a new position in OLO in the first quarter worth $66,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of OLO during the first quarter valued at $93,000. Finally, SCS Capital Management LLC acquired a new position in shares of OLO during the first quarter valued at $146,000. 93.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at OLO

In other news, COO Joanna G. Lambert sold 38,275 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $10.25, for a total transaction of $392,318.75. Following the sale, the chief operating officer owned 886,871 shares in the company, valued at approximately $9,090,427.75. This represents a 4.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sherri Manning sold 5,608 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $10.25, for a total value of $57,482.00. Following the sale, the insider owned 292,318 shares in the company, valued at $2,996,259.50. The trade was a 1.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,623 shares of company stock valued at $1,041,336. 38.41% of the stock is currently owned by company insiders.

OLO Stock Performance

Shares of NYSE OLO opened at $10.26 on Monday. The business has a fifty day simple moving average of $10.26 and a 200 day simple moving average of $8.70. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 28.50 and a beta of 1.58. Olo Inc. has a one year low of $4.56 and a one year high of $10.55.

OLO (NYSE:OLO) last issued its earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The firm had revenue of $85.72 million during the quarter, compared to analyst estimates of $82.23 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, research analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial cut shares of OLO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 8th. Piper Sandler boosted their price objective on OLO from $8.00 to $10.25 and gave the stock a “neutral” rating in a report on Monday, July 7th. Wall Street Zen cut OLO from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $10.25 target price on shares of OLO in a research note on Monday, July 7th. Finally, Lake Street Capital cut OLO from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.17.

OLO Profile

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.