OLO (NYSE:OLO) Cut to Hold at StockNews.com

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

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

OLO Stock Up 2.4 %

Shares of OLO opened at $7.17 on Friday. The firm’s 50 day moving average price is $5.32 and its 200 day moving average price is $4.97. The company has a market cap of $1.17 billion, a P/E ratio of -71.70 and a beta of 1.26. OLO has a fifty-two week low of $4.20 and a fifty-two week high of $7.26.

Insider Buying and Selling

In other OLO news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the completion of the sale, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The trade was a 2.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joanna G. Lambert sold 67,403 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $330,274.70. Following the transaction, the chief operating officer now owns 591,646 shares in the company, valued at $2,899,065.40. This trade represents a 10.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,148 shares of company stock valued at $554,425. Corporate insiders own 39.33% of the company’s stock.

Institutional Investors Weigh In On OLO

Several hedge funds have recently modified their holdings of OLO. The Manufacturers Life Insurance Company raised its holdings in 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 buying an additional 2,433 shares during the period. MQS Management LLC increased its holdings in OLO by 15.9% in the third quarter. MQS Management LLC now owns 28,363 shares of the company’s stock valued at $141,000 after buying an additional 3,898 shares during the last quarter. Creative Planning increased its holdings in shares of OLO by 15.1% in the 3rd quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after acquiring an additional 3,974 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 4,382 shares during the period. Finally, Point72 DIFC Ltd boosted its stake in 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 acquiring an additional 4,964 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.

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.