Rice Hall James & Associates LLC Grows Stake in Olo Inc. (NYSE:OLO)

Rice Hall James & Associates LLC boosted its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 56.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 549,550 shares of the company's stock after buying an additional 197,810 shares during the period. Rice Hall James & Associates LLC owned 0.34% of OLO worth $2,726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OLO. Federated Hermes Inc. lifted its stake in shares of OLO by 644,200.0% in the 2nd 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. Rockport Wealth LLC acquired a new position in shares of OLO in the 1st quarter valued at $55,000. Wallace Advisory Group LLC acquired a new position in shares of OLO in the 2nd quarter valued at $57,000. SPC Financial Inc. acquired a new position in shares of OLO in the 3rd quarter valued at $65,000. Finally, Point72 DIFC Ltd lifted its stake in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company's stock valued at $64,000 after purchasing an additional 4,964 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company's stock.

OLO Price Performance

Shares of OLO traded up $0.10 during mid-day trading on Friday, reaching $5.11. The company's stock had a trading volume of 1,083,773 shares, compared to its average volume of 852,553. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $6.84. The stock has a market cap of $828.36 million, a PE ratio of -34.07 and a beta of 1.26. The company's 50 day moving average is $4.97 and its 200 day moving average is $4.82.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting analysts' consensus estimates of $0.05. The business had revenue of $70.50 million for the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. The business's revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) EPS. As a group, sell-side analysts anticipate that Olo Inc. will post -0.06 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on OLO shares. Lake Street Capital increased their target price on OLO from $8.50 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. StockNews.com raised OLO from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Finally, Piper Sandler reissued an "overweight" rating and set a $8.00 target price on shares of OLO in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.67.

Insider Activity at OLO

In related news, CFO Peter J. Benevides sold 10,530 shares of the company's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,597.00. Following the completion of the sale, the chief financial officer now directly owns 414,403 shares of the company's stock, valued at $2,030,574.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other OLO news, insider Sherri Manning sold 9,356 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the sale, the insider now directly owns 148,414 shares of the company's stock, valued at approximately $727,228.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter J. Benevides sold 10,530 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,597.00. Following the sale, the chief financial officer now directly owns 414,403 shares of the company's stock, valued at $2,030,574.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,148 shares of company stock valued at $554,425 in the last three months. 39.33% of the stock is currently owned by company insiders.

OLO Company 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.