OLO (NYSE:OLO) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of OLO (NYSE:OLO) from a hold rating to a buy rating in a report issued on Monday.

OLO Trading Up 0.4 %

Shares of NYSE OLO opened at $7.32 on Monday. OLO has a 1-year low of $4.20 and a 1-year high of $7.47. The company has a 50-day moving average of $5.54 and a two-hundred day moving average of $5.06. The company has a market cap of $1.20 billion, a PE ratio of -73.20 and a beta of 1.26.

Insider Buying and Selling at OLO

In related news, CRO Diego Panama sold 13,555 shares of the business’s 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 $66,419.50. Following the completion of the sale, the executive now directly owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Noah H. Glass sold 10,423 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 312,393 shares in the company, valued at approximately $1,530,725.70. The trade was a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,148 shares of company stock worth $554,425. Insiders own 39.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OLO. Federated Hermes Inc. increased its holdings in OLO by 644,200.0% in the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after purchasing an additional 6,442 shares during the last quarter. Wallace Advisory Group LLC acquired a new position in shares of OLO during the 2nd quarter worth about $57,000. Point72 DIFC Ltd increased its stake in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after acquiring an additional 4,964 shares during the last quarter. SPC Financial Inc. acquired a new stake in shares of OLO in the 3rd quarter valued at approximately $65,000. Finally, Point72 Asset Management L.P. bought a new position in OLO during the 3rd quarter worth approximately $74,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Company 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.