Teacher Retirement System of Texas Takes Position in Olo Inc. (NYSE:OLO)

Teacher Retirement System of Texas acquired a new position in shares of Olo Inc. (NYSE:OLO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 115,893 shares of the company’s stock, valued at approximately $890,000. Teacher Retirement System of Texas owned approximately 0.07% of OLO at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OLO. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of OLO by 44.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company’s stock worth $15,611,000 after buying an additional 622,106 shares in the last quarter. JPMorgan Chase & Co. grew its position in OLO by 220.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock worth $2,770,000 after acquiring an additional 384,196 shares during the last quarter. Globeflex Capital L P acquired a new position in OLO in the 4th quarter worth about $2,552,000. Raymond James Financial Inc. bought a new position in OLO in the fourth quarter valued at about $2,346,000. Finally, Walleye Capital LLC acquired a new stake in shares of OLO during the third quarter valued at about $1,437,000. Institutional investors own 93.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on OLO. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price objective on shares of OLO in a report on Wednesday, January 8th. Royal Bank of Canada raised their price target on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

OLO Stock Performance

NYSE:OLO opened at $6.17 on Friday. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The company has a 50 day simple moving average of $6.87 and a two-hundred day simple moving average of $6.48. The company has a market capitalization of $1.02 billion, a PE ratio of -61.64 and a beta of 1.41.

OLO (NYSE:OLO) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $76.07 million for the quarter, compared to analyst estimates of $72.76 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. Research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

OLO Company Profile

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.