Olo Inc. (NYSE:OLO) Shares Sold by Palogic Value Management L.P.

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

Several other hedge funds also recently modified their holdings of OLO. Charles Schwab Investment Management Inc. raised its holdings in OLO by 14.3% in 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 acquiring an additional 127,569 shares during the last quarter. Barclays PLC increased its stake in OLO by 399.3% in the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock valued at $943,000 after purchasing an additional 152,214 shares during the last quarter. XTX Topco Ltd lifted its position in OLO by 478.6% during the third quarter. XTX Topco Ltd now owns 168,577 shares of the company’s stock worth $836,000 after buying an additional 139,441 shares during the period. Moloney Securities Asset Management LLC purchased a new stake in OLO in the 4th quarter valued at about $407,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of OLO during the 3rd quarter valued at about $631,000. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Down 4.0 %

Shares of NYSE OLO opened at $6.17 on Friday. The business has a 50 day moving average price of $6.87 and a two-hundred day moving average price of $6.47. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The firm has a market cap of $1.02 billion, a PE ratio of -61.64 and a beta of 1.41.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OLO shares. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price target on shares of OLO in a research note on Wednesday, January 8th. StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada boosted their target price on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd.

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.