Globeflex Capital L P Purchases Shares of 332,267 Olo Inc. (NYSE:OLO)

Globeflex Capital L P acquired a new stake in Olo Inc. (NYSE:OLO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 332,267 shares of the company’s stock, valued at approximately $2,552,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of OLO by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock valued at $5,049,000 after buying an additional 127,569 shares in the last quarter. Barclays PLC grew its position in OLO by 399.3% in the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock valued at $943,000 after acquiring an additional 152,214 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in OLO in the 3rd quarter valued at about $1,600,000. XTX Topco Ltd grew its position in OLO by 478.6% in the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock valued at $836,000 after acquiring an additional 139,441 shares in the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new position in shares of OLO during the fourth quarter worth about $407,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Stock Up 3.2 %

OLO stock opened at $6.24 on Friday. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $8.35. The company has a market capitalization of $1.04 billion, a PE ratio of -62.34 and a beta of 1.41. The stock’s 50 day moving average is $7.12 and its two-hundred day moving average is $6.39.

OLO (NYSE:OLO) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The business had revenue of $76.07 million for the quarter, compared to analyst estimates of $72.76 million. As a group, sell-side analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OLO shares. Royal Bank of Canada upped their price target on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. StockNews.com raised OLO from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $8.00 price objective on shares of OLO in a research report on Wednesday, January 8th.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.