Laurus Global Equity Management Inc. Raises Position in Olo Inc. $OLO

Laurus Global Equity Management Inc. raised its holdings in shares of Olo Inc. (NYSE:OLO) by 72.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,910 shares of the company’s stock after buying an additional 50,680 shares during the quarter. Laurus Global Equity Management Inc. owned about 0.07% of OLO worth $1,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in OLO. Calamos Advisors LLC bought a new stake in shares of OLO during the 1st quarter valued at about $63,000. Corton Capital Inc. purchased a new stake in OLO in the first quarter valued at approximately $66,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in OLO during the first quarter valued at approximately $93,000. SCS Capital Management LLC purchased a new position in OLO in the 1st quarter worth approximately $146,000. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of OLO by 13.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company’s stock worth $151,000 after buying an additional 2,922 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors.

OLO Price Performance

OLO opened at $10.26 on Monday. Olo Inc. has a one year low of $4.56 and a one year high of $10.55. The business has a 50 day simple moving average of $10.27 and a two-hundred day simple moving average of $8.84. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 28.50 and a beta of 1.58.

OLO (NYSE:OLO) last announced its earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The business had revenue of $85.72 million for the quarter, compared to the consensus estimate of $82.23 million. During the same quarter in the prior year, the company earned $0.05 EPS. OLO’s revenue was up 21.6% compared to the same quarter last year. As a group, sell-side analysts expect that Olo Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

OLO has been the subject of several research reports. Truist Financial lowered shares of OLO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 8th. Royal Bank Of Canada restated a “sector perform” rating and set a $10.25 price target on shares of OLO in a research report on Monday, July 7th. Lake Street Capital downgraded OLO from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Wall Street Zen lowered OLO from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Finally, Piper Sandler lifted their target price on shares of OLO from $8.00 to $10.25 and gave the stock a “neutral” rating in a research note on Monday, July 7th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.17.

Insider Buying and Selling

In related news, insider Sherri Manning sold 5,608 shares of the business’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $10.25, for a total transaction of $57,482.00. Following the sale, the insider owned 292,318 shares of the company’s stock, valued at $2,996,259.50. The trade was a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Noah H. Glass sold 11,735 shares of the company’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $10.25, for a total transaction of $120,283.75. Following the completion of the sale, the chief executive officer owned 266,467 shares in the company, valued at approximately $2,731,286.75. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,623 shares of company stock valued at $1,041,336 over the last 90 days. 38.41% of the stock is currently owned by company insiders.

OLO Profile

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.