Corient Private Wealth LLC Lowers Stake in Olo Inc. (NYSE:OLO)

Corient Private Wealth LLC trimmed its position in shares of Olo Inc. (NYSE:OLO) by 51.6% during the 4th quarter, Holdings Channel reports. The firm owned 10,349 shares of the company’s stock after selling 11,044 shares during the period. Corient Private Wealth LLC’s holdings in OLO were worth $79,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tandem Financial LLC purchased a new position in OLO in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC bought a new position in shares of OLO during the fourth quarter worth $27,000. SBI Securities Co. Ltd. bought a new position in shares of OLO during the fourth quarter worth $35,000. Point72 Asset Management L.P. purchased a new position in OLO during the third quarter valued at $74,000. Finally, Benjamin Edwards Inc. bought a new stake in OLO in the 3rd quarter valued at $91,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Stock Performance

Shares of OLO stock opened at $6.19 on Thursday. The stock has a fifty day simple moving average of $6.78 and a two-hundred day simple moving average of $6.51. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $8.35. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -61.89 and a beta of 1.41.

OLO (NYSE:OLO) last posted its quarterly earnings data 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). 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. Research analysts predict that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.