72,165 Shares in Olo Inc. (NYSE:OLO) Bought by Graham Capital Management L.P.

Graham Capital Management L.P. purchased a new position in Olo Inc. (NYSE:OLO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 72,165 shares of the company's stock, valued at approximately $554,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Driehaus Capital Management LLC bought a new stake in shares of OLO in the 4th quarter valued at approximately $9,691,000. Arrowstreet Capital Limited Partnership lifted its position in shares of OLO by 138.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock worth $14,561,000 after buying an additional 1,100,307 shares during the period. Norges Bank bought a new position in shares of OLO during the 4th quarter worth approximately $5,181,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of OLO by 44.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock worth $15,611,000 after buying an additional 622,106 shares during the period. Finally, Federated Hermes Inc. raised its position in 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 purchasing an additional 548,560 shares during the last quarter. Institutional investors own 93.40% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on OLO. StockNews.com cut OLO from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Lake Street Capital upped their target price on shares of OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

OLO Stock Performance

OLO traded down $0.19 during trading on Monday, reaching $8.97. 1,625,621 shares of the company's stock were exchanged, compared to its average volume of 1,246,870. The company's fifty day moving average price is $6.69 and its 200-day moving average price is $6.98. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.78. The firm has a market capitalization of $1.49 billion, a PE ratio of -89.69 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The firm had revenue of $80.68 million during the quarter, compared to analyst estimates of $77.47 million. During the same quarter in the previous year, the business earned $0.05 EPS. The business's quarterly revenue was up 21.3% compared to the same quarter last year. Research analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

About OLO

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.