Dimensional Fund Advisors LP Lowers Stake in Olo Inc. (NYSE:OLO)

Dimensional Fund Advisors LP lowered its holdings in shares of Olo Inc. (NYSE:OLO) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,072,704 shares of the company’s stock after selling 334,890 shares during the period. Dimensional Fund Advisors LP owned approximately 1.91% of OLO worth $13,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLO. Palogic Value Management L.P. purchased a new stake in shares of OLO in the 4th quarter worth approximately $2,917,000. Virtu Financial LLC bought a new position in shares of OLO during the fourth quarter valued at $174,000. Quadrature Capital Ltd increased its holdings in shares of OLO by 39.3% during the fourth quarter. Quadrature Capital Ltd now owns 50,394 shares of the company’s stock valued at $288,000 after acquiring an additional 14,212 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in OLO by 419.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 306,100 shares of the company’s stock worth $1,680,000 after purchasing an additional 247,194 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in OLO by 8.8% in the first quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock worth $155,000 after buying an additional 2,285 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Price Performance

Shares of OLO opened at $4.75 on Friday. Olo Inc. has a one year low of $4.20 and a one year high of $6.84. The business has a fifty day moving average of $5.08 and a 200 day moving average of $4.87. The firm has a market capitalization of $770.02 million, a P/E ratio of -16.38 and a beta of 1.28.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $70.50 million during the quarter, compared to analyst estimates of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) EPS. Analysts expect that Olo Inc. will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Diego Panama sold 13,555 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other OLO news, CEO Noah H. Glass sold 10,423 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 transaction of $51,072.70. Following the transaction, the chief executive officer now owns 312,393 shares of the company’s stock, valued at $1,530,725.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Diego Panama sold 13,555 shares of the company’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 $66,419.50. Following the completion of the transaction, the executive now owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,148 shares of company stock worth $554,425. Company insiders own 39.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OLO. Lake Street Capital increased their price target on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $8.00 target price on shares of OLO in a report on Thursday, August 1st. Finally, StockNews.com raised OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.67.

About OLO

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.