StoneX Group Inc. Purchases New Shares in Olo Inc. (NYSE:OLO)

StoneX Group Inc. acquired a new position in Olo Inc. (NYSE:OLO) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 100,978 shares of the company’s stock, valued at approximately $776,000. StoneX Group Inc. owned approximately 0.06% of OLO at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of OLO by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock worth $5,049,000 after acquiring an additional 127,569 shares in the last quarter. Barclays PLC raised its position in shares of 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 purchasing an additional 152,214 shares in the last quarter. XTX Topco Ltd boosted its stake in shares of OLO by 478.6% during the 3rd quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock valued at $836,000 after buying an additional 139,441 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new stake in shares of OLO during the fourth quarter worth approximately $407,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of OLO in the third quarter worth $631,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Price Performance

Shares of OLO stock opened at $6.19 on Thursday. The company has a market cap of $1.03 billion, a P/E ratio of -61.89 and a beta of 1.41. The business has a 50 day moving average of $6.78 and a two-hundred day moving average of $6.51. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $8.35.

OLO (NYSE:OLO) last released its quarterly earnings data 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 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 analyst estimates of $72.76 million. Analysts expect that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on OLO shares. Royal Bank of Canada raised their price objective on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Piper Sandler reissued a “neutral” rating and issued a $8.00 price objective on shares of OLO in a report on Wednesday, January 8th. Finally, StockNews.com downgraded OLO from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th.

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.