Raymond James Financial Inc. Acquires Shares of 305,417 Olo Inc. (NYSE:OLO)

Raymond James Financial Inc. bought a new position in shares of Olo Inc. (NYSE:OLO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 305,417 shares of the company’s stock, valued at approximately $2,346,000.

Several other large investors also recently modified their holdings of the business. Arizona State Retirement System raised its position in OLO by 5.1% during the 4th quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock valued at $233,000 after purchasing an additional 1,464 shares during the last quarter. Tandem Financial LLC bought a new position in shares of OLO during the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC bought a new position in shares of OLO during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. purchased a new stake in OLO in the fourth quarter worth $35,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in OLO by 16.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 54,312 shares of the company’s stock valued at $269,000 after acquiring an additional 7,688 shares in the last quarter. 93.40% of the stock is owned by institutional investors.

OLO Trading Down 4.0 %

Shares of OLO stock opened at $6.17 on Friday. The company’s fifty day moving average price is $6.87 and its 200-day moving average price is $6.48. The stock has a market cap of $1.02 billion, a PE ratio of -61.64 and a beta of 1.41. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $8.35.

OLO (NYSE:OLO) last issued its quarterly earnings results 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). The business had revenue of $76.07 million for the quarter, compared to analysts’ expectations of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. On average, sell-side analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. 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. Finally, Piper Sandler reiterated a “neutral” rating and set 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.