Thrivent Financial for Lutherans Takes $258,000 Position in Olo Inc. (NYSE:OLO)

Thrivent Financial for Lutherans bought a new position in shares of Olo Inc. (NYSE:OLO) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 33,579 shares of the company’s stock, valued at approximately $258,000.

A number of other hedge funds also recently added to or reduced their stakes in OLO. Geode Capital Management LLC increased its position in shares of OLO by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock worth $12,130,000 after acquiring an additional 42,318 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in OLO by 44.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company’s stock worth $15,611,000 after purchasing an additional 622,106 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in OLO by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company’s stock worth $7,960,000 after purchasing an additional 18,474 shares during the period. JPMorgan Chase & Co. boosted 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 buying an additional 384,196 shares during the period. Finally, Globeflex Capital L P purchased a new position in shares of OLO in the 4th quarter valued at about $2,552,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

OLO Stock Down 0.3 %

OLO stock opened at $5.86 on Friday. The business has a 50 day moving average price of $6.72 and a 200 day moving average price of $6.52. The stock has a market cap of $972.02 million, a price-to-earnings ratio of -58.54 and a beta of 1.42. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35.

OLO (NYSE:OLO) last issued 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 company had revenue of $76.07 million for the quarter, compared to analysts’ expectations of $72.76 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. As a group, sell-side analysts anticipate 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.