Lombard Odier Asset Management USA Corp Purchases Shares of 77,684 Olo Inc. (NYSE:OLO)

Lombard Odier Asset Management USA Corp acquired a new position in Olo Inc. (NYSE:OLO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 77,684 shares of the company’s stock, valued at approximately $343,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC lifted 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 valued at $1,680,000 after purchasing an additional 247,194 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of OLO in the 1st quarter valued at $1,038,000. Vanguard Group Inc. increased its position in OLO by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock worth $69,940,000 after purchasing an additional 319,544 shares in the last quarter. Dimensional Fund Advisors LP raised its position in OLO by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock valued at $19,512,000 after purchasing an additional 416,851 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of OLO during the second quarter worth $249,000. 93.40% of the stock is owned by institutional investors.

OLO Stock Performance

NYSE OLO opened at $5.07 on Tuesday. Olo Inc. has a one year low of $4.20 and a one year high of $6.84. The stock has a 50-day moving average of $5.07 and a 200 day moving average of $4.90. The company has a market capitalization of $813.82 million, a price-to-earnings ratio of -17.48 and a beta of 1.28.

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

Insider Activity at OLO

In other news, COO Joanna G. Lambert sold 67,403 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 transaction of $330,274.70. Following the transaction, the chief operating officer now directly owns 591,646 shares of the company’s stock, valued at $2,899,065.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other OLO news, insider Sherri Manning sold 9,356 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the transaction, the insider now owns 148,414 shares in the company, valued at $727,228.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joanna G. Lambert sold 67,403 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $330,274.70. Following the sale, the chief operating officer now owns 591,646 shares in the company, valued at $2,899,065.40. The disclosure for this sale can be found here. Insiders sold 113,148 shares of company stock worth $554,425 over the last three months. 39.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st. StockNews.com raised OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Finally, Lake Street Capital lifted their target price on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, OLO presently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

OLO 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.