OLO (NYSE:OLO) Downgraded by StockNews.com to Hold

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

A number of other equities research analysts also recently commented on OLO. Piper Sandler reissued an “overweight” rating and issued a $8.00 target price on shares of OLO in a report on Thursday, August 1st. Lake Street Capital raised their price objective on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st.

OLO Price Performance

Shares of OLO stock opened at $7.17 on Friday. The stock has a 50 day simple moving average of $5.32 and a 200-day simple moving average of $4.97. OLO has a 12-month low of $4.20 and a 12-month high of $7.26.

Insider Activity at OLO

In other OLO news, insider Sherri Manning sold 9,356 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the transaction, the insider now directly owns 148,414 shares in the company, valued at approximately $727,228.60. This trade represents a 5.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Noah H. Glass sold 10,423 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $51,072.70. Following the completion of the sale, the chief executive officer now directly owns 312,393 shares in the company, valued at $1,530,725.70. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,148 shares of company stock valued at $554,425 in the last ninety days. Corporate insiders own 39.33% of the company’s stock.

Hedge Funds Weigh In On OLO

Several hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of OLO by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock valued at $186,000 after acquiring an additional 2,433 shares in the last quarter. MQS Management LLC lifted its holdings in OLO by 15.9% in the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company’s stock valued at $141,000 after purchasing an additional 3,898 shares in the last quarter. Creative Planning boosted its stake in shares of OLO by 15.1% during the 3rd quarter. Creative Planning now owns 30,371 shares of the company’s stock worth $151,000 after purchasing an additional 3,974 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of OLO by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock worth $265,000 after buying an additional 4,382 shares in the last quarter. Finally, Point72 DIFC Ltd raised its position in shares of OLO by 52.7% in the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after buying an additional 4,964 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

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.