Acadian Asset Management LLC Makes New Investment in Olo Inc. (NYSE:OLO)

Acadian Asset Management LLC acquired a new stake in shares of Olo Inc. (NYSE:OLO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,609 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers lifted its position in OLO by 3.3% during the 2nd quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock worth $680,000 after acquiring an additional 4,979 shares during the period. Conestoga Capital Advisors LLC raised its stake in shares of OLO by 30.6% in the second quarter. Conestoga Capital Advisors LLC now owns 310,310 shares of the company’s stock worth $1,372,000 after purchasing an additional 72,685 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of OLO during the second quarter worth about $249,000. Bayesian Capital Management LP acquired a new stake in shares of OLO during the first quarter worth about $188,000. Finally, Silvercrest Asset Management Group LLC boosted its position in OLO by 3.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock valued at $4,815,000 after buying an additional 26,919 shares during the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Price Performance

NYSE:OLO opened at $5.17 on Friday. The company has a 50 day moving average price of $5.05 and a 200-day moving average price of $4.92. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $6.84. The firm has a market cap of $829.87 million, a price-to-earnings ratio of -18.07 and a beta of 1.28.

OLO (NYSE:OLO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The company had revenue of $70.50 million during the quarter, compared to analysts’ expectations of $67.79 million. During the same quarter in the previous year, the company earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, sell-side analysts anticipate that Olo Inc. will post -0.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on OLO shares. Lake Street Capital lifted their price objective on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $8.00 price target on shares of OLO in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

Insider Buying and Selling

In other news, CRO Diego Panama sold 13,555 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 in the company, valued at $2,792,309.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Sherri Manning sold 9,356 shares of OLO stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $45,844.40. Following the sale, the insider now directly owns 148,414 shares in the company, valued at approximately $727,228.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Diego Panama sold 13,555 shares of the 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 transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is owned by company insiders.

OLO 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.