Walleye Capital LLC Buys New Position in Olo Inc. (NYSE:OLO)

Walleye Capital LLC bought a new position in Olo Inc. (NYSE:OLO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 289,786 shares of the company's stock, valued at approximately $1,437,000. Walleye Capital LLC owned about 0.18% of OLO as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC increased its position in OLO by 1,850.5% in the third quarter. FMR LLC now owns 22,021 shares of the company's stock worth $109,000 after buying an additional 20,892 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of 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 acquiring an additional 7,688 shares during the period. Algert Global LLC increased its stake in shares of OLO by 9.6% in the third quarter. Algert Global LLC now owns 778,395 shares of the company's stock valued at $3,861,000 after purchasing an additional 68,076 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of OLO by 14.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company's stock valued at $5,049,000 after buying an additional 127,569 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of OLO during the third quarter worth approximately $1,600,000. Institutional investors own 93.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded OLO from a "hold" rating to a "buy" rating in a research report on Monday.

OLO Trading Up 4.3 %

OLO traded up $0.31 on Friday, reaching $7.52. The company had a trading volume of 2,405,085 shares, compared to its average volume of 1,047,860. The company has a market capitalization of $1.23 billion, a P/E ratio of -72.10 and a beta of 1.46. The company has a fifty day moving average of $5.73 and a 200-day moving average of $5.12. Olo Inc. has a one year low of $4.20 and a one year high of $7.56.

About OLO

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.