Corient Private Wealth LLC Sells 11,044 Shares of Olo Inc. (NYSE:OLO)

Corient Private Wealth LLC lessened its position in shares of Olo Inc. (NYSE:OLO) by 51.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,349 shares of the company’s stock after selling 11,044 shares during the period. Corient Private Wealth LLC’s holdings in OLO were worth $79,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of 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. JPMorgan Chase & Co. boosted its holdings in OLO by 220.4% in the third 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 in the last quarter. Globeflex Capital L P acquired a new stake in OLO in the fourth quarter valued at approximately $2,552,000. Raymond James Financial Inc. bought a new stake in shares of OLO during the fourth quarter valued at approximately $2,346,000. Finally, Walleye Capital LLC acquired a new position in shares of OLO during the third quarter worth approximately $1,437,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

OLO Price Performance

Shares of OLO stock opened at $6.19 on Thursday. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $8.35. The firm has a market cap of $1.03 billion, a PE ratio of -61.89 and a beta of 1.41. The company has a 50 day simple moving average of $6.78 and a two-hundred day simple moving average of $6.51.

OLO (NYSE:OLO) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) 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 the consensus estimate 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, research analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current year.

OLO 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.