MQS Management LLC Grows Stock Position in Olo Inc. (NYSE:OLO)

MQS Management LLC raised its holdings in Olo Inc. (NYSE:OLO) by 15.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,363 shares of the company’s stock after buying an additional 3,898 shares during the quarter. MQS Management LLC’s holdings in OLO were worth $141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OLO. Federated Hermes Inc. raised its stake in OLO by 644,200.0% in the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after buying an additional 6,442 shares during the last quarter. Rockport Wealth LLC purchased a new position in shares of OLO in the first quarter worth about $55,000. Wallace Advisory Group LLC purchased a new position in shares of OLO in the second quarter worth about $57,000. Point72 DIFC Ltd raised its stake in shares of 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 last quarter. Finally, SPC Financial Inc. purchased a new position in shares of OLO in the third quarter worth about $65,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Stock Down 0.8 %

OLO stock opened at $6.42 on Friday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -64.19 and a beta of 1.26. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $7.13. The business’s 50-day moving average price is $5.13 and its 200 day moving average price is $4.90.

Insider Buying and Selling

In related news, insider Sherri Manning sold 9,356 shares of the firm’s 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 of the company’s stock, valued at $727,228.60. This trade represents a 5.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Diego Panama sold 13,555 shares of the firm’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 $66,419.50. Following the sale, the executive now directly owns 569,859 shares in the company, valued at approximately $2,792,309.10. This trade represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock valued at $554,425 over the last ninety days. Company insiders own 39.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Lake Street Capital raised their price objective on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. 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. Finally, StockNews.com upgraded OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th.

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.