Legato Capital Management LLC Trims Stock Position in Olo Inc. (NYSE:OLO)

Legato Capital Management LLC lessened its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 23.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,527 shares of the company's stock after selling 34,842 shares during the quarter. Legato Capital Management LLC owned about 0.07% of OLO worth $895,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in OLO by 6.1% during the second 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. Tandem Financial LLC purchased a new position in OLO in the fourth quarter worth about $26,000. MQS Management LLC raised its holdings in OLO by 15.9% in the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company's stock worth $141,000 after acquiring an additional 3,898 shares during the last quarter. Creative Planning lifted its position in OLO by 15.1% in the 3rd quarter. Creative Planning now owns 30,371 shares of the company's stock valued at $151,000 after acquiring an additional 3,974 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in OLO by 16.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 54,312 shares of the company's stock worth $269,000 after buying an additional 7,688 shares in the last quarter. 93.40% of the stock is owned by institutional investors.

OLO Trading Down 1.2 %

OLO stock traded down $0.09 during mid-day trading on Monday, hitting $7.26. The company had a trading volume of 1,056,229 shares, compared to its average volume of 1,019,192. The company's fifty day moving average is $7.55 and its 200-day moving average is $6.22. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $8.35. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -72.54 and a beta of 1.41.

Analysts Set New Price Targets

OLO has been the subject of several research reports. Royal Bank of Canada upped their price target on shares of OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Piper Sandler reaffirmed a "neutral" rating and issued a $8.00 price objective on shares of OLO in a research note on Wednesday, January 8th. Finally, StockNews.com lowered OLO from a "buy" rating to a "hold" rating in a research note on Tuesday, December 10th.

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.