Norden Group LLC Raises Stake in Olo Inc. (NYSE:OLO)

Norden Group LLC boosted its holdings in shares of Olo Inc. (NYSE:OLO) by 1,737.5% in the first quarter, HoldingsChannel reports. The fund owned 562,030 shares of the company’s stock after acquiring an additional 531,444 shares during the period. Norden Group LLC’s holdings in OLO were worth $3,086,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC increased its stake in OLO by 419.6% during the 1st quarter. Los Angeles Capital Management LLC now owns 306,100 shares of the company’s stock valued at $1,680,000 after purchasing an additional 247,194 shares in the last quarter. Tudor Investment Corp Et Al increased its stake in OLO by 81.9% during the 3rd quarter. Tudor Investment Corp Et Al now owns 414,511 shares of the company’s stock valued at $2,512,000 after purchasing an additional 186,635 shares in the last quarter. Vanguard Group Inc. increased its stake in OLO by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock valued at $71,810,000 after purchasing an additional 495,247 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in OLO by 13.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock valued at $19,512,000 after purchasing an additional 416,851 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in OLO by 109.9% during the 4th quarter. Private Advisor Group LLC now owns 60,206 shares of the company’s stock valued at $344,000 after purchasing an additional 31,518 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at OLO

In related news, CRO Diego Panama sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $4.70, for a total transaction of $188,000.00. Following the completion of the sale, the executive now directly owns 592,806 shares in the company, valued at $2,786,188.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other OLO news, CFO Peter J. Benevides sold 10,259 shares of OLO stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $4.52, for a total transaction of $46,370.68. Following the transaction, the chief financial officer now owns 424,933 shares of the company’s stock, valued at $1,920,697.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Diego Panama sold 40,000 shares of OLO stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $4.70, for a total transaction of $188,000.00. Following the transaction, the executive now directly owns 592,806 shares in the company, valued at approximately $2,786,188.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,686 shares of company stock worth $362,798. 39.33% of the stock is owned by company insiders.

OLO Stock Performance

NYSE:OLO opened at $4.28 on Friday. Olo Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $8.84. The firm has a 50-day simple moving average of $4.59 and a two-hundred day simple moving average of $5.12.

OLO (NYSE:OLO) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. OLO had a negative net margin of 19.35% and a negative return on equity of 1.56%. The firm had revenue of $66.51 million during the quarter, compared to analyst estimates of $64.22 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. On average, research analysts forecast that Olo Inc. will post -0.08 earnings per share for the current fiscal year.

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.