Renaissance Technologies LLC Increases Stake in Olo Inc. (NYSE:OLO)

Renaissance Technologies LLC increased its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,660,700 shares of the company's stock after acquiring an additional 174,200 shares during the quarter. Renaissance Technologies LLC owned approximately 1.01% of OLO worth $12,754,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in OLO by 20.7% during the 4th quarter. Legal & General Group Plc now owns 113,146 shares of the company's stock valued at $869,000 after acquiring an additional 19,370 shares during the period. Invesco Ltd. lifted its position in OLO by 1.9% during the fourth quarter. Invesco Ltd. now owns 121,611 shares of the company's stock valued at $934,000 after purchasing an additional 2,261 shares during the last quarter. Cerity Partners OCIO LLC purchased a new position in OLO in the fourth quarter worth $166,000. Federated Hermes Inc. lifted its holdings in shares of OLO by 6,935.0% in the 4th quarter. Federated Hermes Inc. now owns 556,470 shares of the company's stock worth $4,274,000 after acquiring an additional 548,560 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in OLO in the 4th quarter worth $80,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OLO. StockNews.com lowered OLO from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Royal Bank of Canada boosted their price objective 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. Finally, Piper Sandler restated a "neutral" rating and set a $8.00 price target on shares of OLO in a report on Wednesday, January 8th.

OLO Stock Down 3.4 %

Shares of OLO stock traded down $0.21 on Monday, reaching $5.86. The company's stock had a trading volume of 184,346 shares, compared to its average volume of 1,168,383. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $8.35. The firm's fifty day simple moving average is $6.42 and its two-hundred day simple moving average is $6.62. The company has a market capitalization of $972.02 million, a price-to-earnings ratio of -58.74 and a beta of 1.42.

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

OLO 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.