HB Wealth Management LLC Boosts Position in Olo Inc. $OLO

HB Wealth Management LLC grew its stake in Olo Inc. (NYSE:OLO) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,819 shares of the company’s stock after acquiring an additional 2,878 shares during the quarter. HB Wealth Management LLC’s holdings in OLO were worth $274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OLO. Calamos Advisors LLC purchased a new stake in shares of OLO in the first quarter valued at $63,000. Corton Capital Inc. purchased a new stake in shares of OLO in the first quarter valued at $66,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of OLO in the first quarter valued at $93,000. SCS Capital Management LLC purchased a new stake in shares of OLO in the first quarter valued at $146,000. Finally, Dynamic Technology Lab Private Ltd lifted its position in shares of OLO by 13.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company’s stock valued at $151,000 after acquiring an additional 2,922 shares in the last quarter. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Stock Performance

Shares of OLO opened at $10.26 on Tuesday. The company has a market capitalization of $1.74 billion, a P/E 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. The stock has a 50-day moving average price of $10.27 and a 200 day moving average price of $8.87.

OLO (NYSE:OLO) last issued its quarterly 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). The business had revenue of $85.72 million during the quarter, compared to analysts’ expectations of $82.23 million. OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.05 EPS. As a group, equities research analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on OLO. Wall Street Zen lowered OLO from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Piper Sandler upped their target price on OLO from $8.00 to $10.25 and gave the company a “neutral” rating in a research note on Monday, July 7th. Lake Street Capital lowered OLO from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Truist Financial lowered OLO from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $10.25 target price on shares of OLO in a research note on Monday, July 7th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.17.

Insider Buying and Selling at OLO

In related news, CEO Noah H. Glass sold 11,735 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 $120,283.75. Following the completion of the sale, the chief executive officer directly owned 266,467 shares in the company, valued at approximately $2,731,286.75. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter J. Benevides sold 29,269 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 $300,007.25. Following the sale, the chief financial officer owned 672,792 shares of the company’s stock, valued at approximately $6,896,118. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,623 shares of company stock worth $1,041,336. 38.41% of the stock is owned by insiders.

OLO Company 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.