Palogic Value Management L.P. Lowers Stake in Olo Inc. (NYSE:OLO)

Palogic Value Management L.P. reduced its holdings in shares of Olo Inc. (NYSE:OLO) by 57.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,303 shares of the company’s stock after selling 395,000 shares during the period. Palogic Value Management L.P. owned 0.18% of OLO worth $2,276,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tandem Financial LLC purchased a new position in OLO during the 4th quarter valued at about $26,000. Global Retirement Partners LLC purchased a new position in OLO during the 4th quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in OLO during the 4th quarter valued at about $35,000. Point72 Asset Management L.P. purchased a new position in OLO during the 3rd quarter valued at about $74,000. Finally, Benjamin Edwards Inc. purchased a new position in OLO during the 3rd quarter valued at about $91,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Stock Performance

Shares of OLO stock opened at $6.37 on Friday. The company has a 50-day simple moving average of $7.00 and a two-hundred day simple moving average of $6.42. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $8.35. The stock has a market capitalization of $1.06 billion, a PE ratio of -63.64 and a beta of 1.41.

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

Analyst Ratings Changes

Several brokerages have issued reports on OLO. Royal Bank of Canada lifted their target price on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $8.00 target price on shares of OLO in a report on Wednesday, January 8th.

OLO Profile

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.