Connor Clark & Lunn Investment Management Ltd. Boosts Holdings in Olo Inc. (NYSE:OLO)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 44.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,032,634 shares of the company's stock after buying an additional 622,106 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.24% of OLO worth $15,611,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in OLO. Charles Schwab Investment Management Inc. raised its stake in OLO by 14.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company's stock valued at $5,049,000 after acquiring an additional 127,569 shares during the last quarter. Barclays PLC increased its holdings in shares of OLO by 399.3% in the third quarter. Barclays PLC now owns 190,335 shares of the company's stock valued at $943,000 after purchasing an additional 152,214 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of OLO during the third quarter worth approximately $1,600,000. XTX Topco Ltd lifted its holdings in shares of OLO by 478.6% during the third quarter. XTX Topco Ltd now owns 168,577 shares of the company's stock worth $836,000 after purchasing an additional 139,441 shares during the period. Finally, Moloney Securities Asset Management LLC purchased a new position in OLO in the 4th quarter valued at $407,000. Institutional investors and hedge funds own 93.40% of the company's stock.

OLO Price Performance

Shares of NYSE OLO traded down $0.03 during trading on Monday, hitting $6.21. 1,044,410 shares of the company were exchanged, compared to its average volume of 1,086,074. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $8.35. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -62.08 and a beta of 1.41. The firm's fifty day moving average price is $7.12 and its 200 day moving average price is $6.40.

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OLO (NYSE:OLO - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The company had revenue of $76.07 million during the quarter, compared to analysts' expectations of $72.76 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. On average, research analysts forecast that Olo Inc. will post -0.03 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have commented on OLO. Piper Sandler restated a "neutral" rating and set a $8.00 price objective on shares of OLO in a research report on Wednesday, January 8th. StockNews.com raised shares of OLO from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Finally, Royal Bank of Canada lifted their price objective on OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Friday, January 3rd.

About OLO

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.