OLO (NYSE:OLO) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a report released on Friday.

OLO has been the subject of a number of other reports. Lake Street Capital boosted their price objective on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $8.00 price objective on shares of OLO in a research note on Thursday, August 1st.

OLO Stock Performance

NYSE OLO opened at $7.25 on Friday. The business’s fifty day moving average is $5.37 and its 200 day moving average is $4.99. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $7.47. The company has a market capitalization of $1.19 billion, a PE ratio of -72.49 and a beta of 1.26.

Insider Activity at OLO

In related news, COO Joanna G. Lambert sold 67,403 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $330,274.70. Following the sale, the chief operating officer now directly owns 591,646 shares in the company, valued at approximately $2,899,065.40. The trade was a 10.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter J. Benevides sold 10,530 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $51,597.00. Following the transaction, the chief financial officer now owns 414,403 shares of the company’s stock, valued at $2,030,574.70. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is owned by company insiders.

Institutional Trading of OLO

Hedge funds have recently modified their holdings of the company. Barclays PLC increased its position in OLO by 399.3% in the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after purchasing an additional 152,214 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of OLO by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock worth $12,130,000 after buying an additional 42,318 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of OLO in the 3rd quarter worth about $631,000. XTX Topco Ltd raised its position in shares of OLO by 478.6% during the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock valued at $836,000 after buying an additional 139,441 shares in the last quarter. Finally, Zacks Investment Management lifted its holdings in shares of OLO by 26.7% in the 3rd quarter. Zacks Investment Management now owns 82,699 shares of the company’s stock valued at $410,000 after acquiring an additional 17,447 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Company Profile

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.