Palogic Value Management L.P. Cuts Position in Olo Inc. (NYSE:OLO)

Palogic Value Management L.P. lessened its holdings in Olo Inc. (NYSE:OLO - Free Report) by 57.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 296,303 shares of the company's stock after selling 395,000 shares during the quarter. Palogic Value Management L.P. owned 0.18% of OLO worth $2,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of OLO. Norges Bank acquired a new position in shares of OLO during the fourth quarter worth $5,181,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in OLO by 44.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock valued at $15,611,000 after purchasing an additional 622,106 shares during the period. Vanguard Group Inc. raised its position in OLO by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company's stock worth $112,814,000 after purchasing an additional 415,868 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in OLO by 220.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company's stock worth $2,770,000 after buying an additional 384,196 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of OLO in the 4th quarter valued at about $2,840,000. Institutional investors own 93.40% of the company's stock.

OLO Trading Up 0.3 %

OLO stock traded up $0.02 during midday trading on Wednesday, reaching $6.21. The stock had a trading volume of 398,942 shares, compared to its average volume of 1,137,096. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $8.35. The company has a fifty day moving average price of $6.81 and a two-hundred day moving average price of $6.52. The company has a market capitalization of $1.03 billion, a P/E ratio of -62.09 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $76.07 million for 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%. On average, equities research analysts predict that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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