The Manufacturers Life Insurance Company Has $186,000 Holdings in Olo Inc. (NYSE:OLO)

The Manufacturers Life Insurance Company lifted its stake in Olo Inc. (NYSE:OLO) by 6.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,023 shares of the company’s stock after acquiring an additional 2,433 shares during the period. The Manufacturers Life Insurance Company’s holdings in OLO were worth $186,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Federated Hermes Inc. lifted its position in shares of OLO by 644,200.0% in the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after acquiring an additional 6,442 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of OLO in the first quarter valued at $29,000. Rockport Wealth LLC acquired a new position in shares of OLO in the first quarter valued at $55,000. Point72 DIFC Ltd lifted its position in OLO by 52.7% in the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after purchasing an additional 4,964 shares during the period. Finally, Marshall Wace LLP acquired a new stake in OLO during the second quarter worth $99,000. Institutional investors own 93.40% of the company’s stock.

OLO Price Performance

OLO stock opened at $5.05 on Friday. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $6.84. The stock has a fifty day moving average price of $5.03 and a two-hundred day moving average price of $4.82. The firm has a market capitalization of $818.66 million, a P/E ratio of -33.66 and a beta of 1.27.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, CRO Diego Panama sold 13,555 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the completion of the transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sherri Manning sold 9,356 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $45,844.40. Following the sale, the insider now directly owns 148,414 shares in the company, valued at approximately $727,228.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,148 shares of company stock worth $554,425. Insiders own 39.33% of the company’s stock.

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.