115,893 Shares in Olo Inc. (NYSE:OLO) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new stake in Olo Inc. (NYSE:OLO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 115,893 shares of the company's stock, valued at approximately $890,000. Teacher Retirement System of Texas owned about 0.07% of OLO at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of OLO by 14.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company's stock worth $5,049,000 after acquiring an additional 127,569 shares during the last quarter. Barclays PLC lifted its stake in OLO by 399.3% during the third quarter. Barclays PLC now owns 190,335 shares of the company's stock worth $943,000 after purchasing an additional 152,214 shares in the last quarter. XTX Topco Ltd boosted its position in shares of OLO by 478.6% during the third quarter. XTX Topco Ltd now owns 168,577 shares of the company's stock worth $836,000 after buying an additional 139,441 shares during the period. Moloney Securities Asset Management LLC acquired a new stake in shares of OLO in the fourth quarter valued at $407,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of OLO in the 3rd quarter valued at $631,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

OLO Price Performance

Shares of OLO remained flat at $6.19 during midday trading on Wednesday. The stock had a trading volume of 1,164,660 shares, compared to its average volume of 1,142,156. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -61.89 and a beta of 1.41. The company has a 50-day moving average price of $6.78 and a 200-day moving average price of $6.51.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $76.07 million during the quarter, compared to analysts' expectations of $72.76 million. On average, analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OLO shares. StockNews.com cut OLO from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Royal Bank of Canada lifted their price objective on shares of OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $8.00 target price on shares of OLO in a research note on Wednesday, January 8th.

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.