Verition Fund Management LLC Cuts Stake in Olo Inc. (NYSE:OLO)

Verition Fund Management LLC cut its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 56.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,230 shares of the company's stock after selling 70,411 shares during the quarter. Verition Fund Management LLC's holdings in OLO were worth $269,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in shares of OLO by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company's stock worth $186,000 after acquiring an additional 2,433 shares in the last quarter. MQS Management LLC lifted its holdings in shares of OLO by 15.9% during the third quarter. MQS Management LLC now owns 28,363 shares of the company's stock worth $141,000 after purchasing an additional 3,898 shares during the period. Creative Planning lifted its holdings in shares of OLO by 15.1% during the third quarter. Creative Planning now owns 30,371 shares of the company's stock worth $151,000 after purchasing an additional 3,974 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of OLO by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company's stock worth $265,000 after purchasing an additional 4,382 shares during the period. Finally, Point72 DIFC Ltd raised its stake in OLO by 52.7% during the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company's stock worth $64,000 after buying an additional 4,964 shares during the last quarter. 93.40% of the stock is owned by institutional investors.

OLO Trading Up 0.8 %

Shares of NYSE OLO traded up $0.06 during midday trading on Friday, hitting $7.71. The company's stock had a trading volume of 1,056,474 shares, compared to its average volume of 1,063,871. The stock has a fifty day moving average price of $6.06 and a 200 day moving average price of $5.25. Olo Inc. has a one year low of $4.20 and a one year high of $7.89. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -77.10 and a beta of 1.46.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th.

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.