Arrowstreet Capital Limited Partnership Raises Stock Holdings in Olo Inc. (NYSE:OLO)

Arrowstreet Capital Limited Partnership grew its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 138.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,895,935 shares of the company's stock after buying an additional 1,100,307 shares during the period. Arrowstreet Capital Limited Partnership owned 1.16% of OLO worth $14,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OLO. Arizona State Retirement System grew its stake in OLO by 5.1% during the fourth quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock valued at $233,000 after acquiring an additional 1,464 shares in the last quarter. Tandem Financial LLC purchased a new position in shares of OLO during the 4th quarter valued at $26,000. Global Retirement Partners LLC purchased a new position in shares of OLO during the 4th quarter valued at $27,000. SBI Securities Co. Ltd. bought a new position in shares of OLO in the fourth quarter worth $35,000. Finally, Amundi raised its position in shares of OLO by 93.0% in the fourth quarter. Amundi now owns 14,740 shares of the company's stock worth $112,000 after buying an additional 7,101 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.

OLO Price Performance

OLO stock traded up $0.48 during mid-day trading on Wednesday, hitting $6.32. 1,629,404 shares of the stock were exchanged, compared to its average volume of 1,166,012. The business has a fifty day moving average price of $6.58 and a 200 day moving average price of $6.55. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $8.35. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -63.19 and a beta of 1.42.

OLO (NYSE:OLO - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The firm had revenue of $76.07 million during 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, equities analysts forecast that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on OLO shares. Piper Sandler restated a "neutral" rating and set a $8.00 target price on shares of OLO in a research report on Wednesday, January 8th. Royal Bank of Canada boosted their price objective on OLO from $8.00 to $9.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Finally, StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th.

OLO Company 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.