Federated Hermes Inc. Purchases 548,560 Shares of Olo Inc. (NYSE:OLO)

Federated Hermes Inc. raised its stake in Olo Inc. (NYSE:OLO - Free Report) by 6,935.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 556,470 shares of the company's stock after acquiring an additional 548,560 shares during the period. Federated Hermes Inc. owned about 0.34% of OLO worth $4,274,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of OLO. Barclays PLC grew its position in OLO by 399.3% during the 3rd quarter. Barclays PLC now owns 190,335 shares of the company's stock worth $943,000 after acquiring an additional 152,214 shares during the last quarter. Norges Bank acquired a new stake in shares of OLO in the fourth quarter valued at $5,181,000. Moloney Securities Asset Management LLC bought a new position in shares of OLO in the fourth quarter valued at about $407,000. Y Intercept Hong Kong Ltd bought a new stake in OLO during the 3rd quarter worth about $631,000. Finally, JPMorgan Chase & Co. increased its position in OLO by 220.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company's stock valued at $2,770,000 after acquiring an additional 384,196 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OLO. Royal Bank of Canada raised their price target on shares of OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. 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. Finally, StockNews.com cut OLO from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th.

OLO Price Performance

Shares of OLO stock traded up $0.02 on Friday, hitting $6.05. 984,662 shares of the company's stock traded hands, compared to its average volume of 1,168,781. Olo Inc. has a one year low of $4.20 and a one year high of $8.35. The stock has a market capitalization of $1.00 billion, a PE ratio of -60.44 and a beta of 1.42. The firm's 50-day moving average price is $6.45 and its two-hundred day moving average price is $6.59.

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

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.