Y Intercept Hong Kong Ltd Makes New Investment in Olo Inc. (NYSE:OLO)

Y Intercept Hong Kong Ltd acquired a new position in Olo Inc. (NYSE:OLO - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 127,197 shares of the company's stock, valued at approximately $631,000. Y Intercept Hong Kong Ltd owned 0.08% of OLO as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OLO. Federated Hermes Inc. lifted its stake in OLO by 644,200.0% in the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company's stock valued at $28,000 after purchasing an additional 6,442 shares during the last quarter. Wallace Advisory Group LLC purchased a new position in shares of OLO during the 2nd quarter valued at $57,000. SPC Financial Inc. bought a new position in shares of OLO during the 3rd quarter worth $65,000. Point72 DIFC Ltd increased its holdings in OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company's stock worth $64,000 after acquiring an additional 4,964 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in OLO in the 3rd quarter valued at about $74,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Price Performance

Shares of NYSE:OLO traded up $0.06 during trading on Friday, hitting $7.71. 1,056,474 shares of the company were exchanged, compared to its average volume of 1,063,871. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $7.89. The stock has a 50 day moving average of $6.06 and a 200 day moving average of $5.25. The company has a market cap of $1.26 billion, a PE ratio of -77.10 and a beta of 1.46.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of OLO from a "buy" rating to a "hold" rating in a research report on Tuesday, December 10th.

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.