Rhumbline Advisers Has $1.19 Million Stake in Olo Inc. (NYSE:OLO)

Rhumbline Advisers grew its stake in Olo Inc. (NYSE:OLO) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,282 shares of the company’s stock after purchasing an additional 7,995 shares during the period. Rhumbline Advisers owned about 0.09% of OLO worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in OLO by 52.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after purchasing an additional 487,919 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of OLO by 220.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock valued at $2,770,000 after acquiring an additional 384,196 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of OLO in the 3rd quarter valued at $1,600,000. Walleye Capital LLC acquired a new stake in shares of OLO during the 3rd quarter valued at $1,437,000. Finally, Barclays PLC grew its position in OLO by 399.3% during the 3rd quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after acquiring an additional 152,214 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

OLO Trading Up 2.4 %

Shares of OLO opened at $6.75 on Thursday. The company has a market capitalization of $1.10 billion, a PE ratio of -67.44 and a beta of 1.41. The stock’s 50-day moving average price is $7.34 and its two-hundred day moving average price is $6.36. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $8.35.

OLO (NYSE:OLO) last announced its earnings results on Tuesday, February 25th. The company reported $0.01 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 during the quarter, compared to the consensus estimate of $72.76 million. Equities research analysts predict that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on OLO. StockNews.com downgraded OLO from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Royal Bank of Canada raised their price objective on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $8.00 target price on shares of OLO in a report on Wednesday, January 8th.

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.