StockNews.com Begins Coverage on OLO (NYSE:OLO)

StockNews.com assumed coverage on shares of OLO (NYSE:OLO – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the stock.

Several other research analysts have also recently issued reports on OLO. Royal Bank of Canada upped their price objective on OLO from $9.00 to $10.00 and gave the stock an outperform rating in a research report on Thursday, February 23rd. Piper Sandler reissued a neutral rating and issued a $9.00 target price on shares of OLO in a research report on Tuesday, March 7th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, OLO currently has a consensus rating of Hold and a consensus target price of $11.58.

OLO Stock Performance

NYSE:OLO opened at $7.51 on Thursday. The stock has a 50-day simple moving average of $7.79 and a 200-day simple moving average of $7.65. The stock has a market cap of $1.21 billion, a P/E ratio of -26.82 and a beta of 1.21. OLO has a 1 year low of $5.74 and a 1 year high of $14.29.

Insiders Place Their Bets

In other OLO news, CRO Diego Panama sold 11,826 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $8.04, for a total transaction of $95,081.04. Following the completion of the sale, the executive now directly owns 680,606 shares of the company’s stock, valued at approximately $5,472,072.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other OLO news, CRO Diego Panama sold 11,826 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $8.04, for a total transaction of $95,081.04. Following the completion of the sale, the executive now directly owns 680,606 shares of the company’s stock, valued at approximately $5,472,072.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter J. Benevides sold 8,580 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $7.79, for a total value of $66,838.20. Following the transaction, the chief financial officer now directly owns 353,004 shares of the company’s stock, valued at $2,749,901.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,491 shares of company stock valued at $271,782. 40.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On OLO

A number of large investors have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky raised its stake in shares of OLO by 4.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 122,072 shares of the company’s stock worth $763,000 after buying an additional 5,255 shares in the last quarter. Point72 Middle East FZE purchased a new position in OLO in the 4th quarter valued at approximately $118,000. State of Wyoming increased its stake in OLO by 41.7% in the 4th quarter. State of Wyoming now owns 5,317 shares of the company’s stock valued at $33,000 after purchasing an additional 1,566 shares in the last quarter. CI Private Wealth LLC purchased a new position in OLO in the 4th quarter valued at approximately $66,000. Finally, Captrust Financial Advisors increased its stake in OLO by 18.3% in the 4th quarter. Captrust Financial Advisors now owns 138,589 shares of the company’s stock valued at $866,000 after purchasing an additional 21,453 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

About OLO

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Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants' point-of-sale and systems.