MQS Management LLC Buys 7,866 Shares of Olo Inc. (NYSE:OLO)

MQS Management LLC grew its stake in Olo Inc. (NYSE:OLO) by 47.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,465 shares of the company’s stock after acquiring an additional 7,866 shares during the period. MQS Management LLC’s holdings in OLO were worth $108,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OLO. Federated Hermes Inc. grew its stake in OLO by 644,200.0% in the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after purchasing an additional 6,442 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of OLO in the 1st quarter worth $29,000. Rockport Wealth LLC bought a new position in shares of OLO during the 1st quarter worth $55,000. Victory Capital Management Inc. increased its stake in shares of OLO by 29.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock valued at $80,000 after buying an additional 3,219 shares during the period. Finally, SYSTM Wealth Solutions LLC purchased a new position in shares of OLO during the first quarter valued at $106,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at OLO

In other OLO news, CRO Diego Panama sold 13,555 shares of the firm’s stock in a transaction dated 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 owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, 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 completion of the transaction, the executive now directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joanna G. Lambert sold 67,403 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 transaction of $330,274.70. Following the sale, the chief operating officer now directly owns 591,646 shares in the company, valued at approximately $2,899,065.40. The disclosure for this sale can be found here. Insiders have sold 113,148 shares of company stock valued at $554,425 in the last ninety days. Corporate insiders own 39.33% of the company’s stock.

OLO Stock Performance

NYSE:OLO opened at $5.17 on Friday. The company’s 50-day simple moving average is $5.06 and its 200-day simple moving average is $4.91. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $6.84. The stock has a market capitalization of $838.11 million, a P/E ratio of -17.83 and a beta of 1.28.

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

Analyst Upgrades and Downgrades

OLO has been the topic of several recent research reports. Lake Street Capital increased their target price on shares of OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $8.00 price objective on shares of OLO in a research note on Thursday, August 1st. Finally, StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

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.