Balyasny Asset Management L.P. Increases Position in Olo Inc. (NYSE:OLO)

Balyasny Asset Management L.P. boosted its position in shares of Olo Inc. (NYSE:OLO - Free Report) by 67.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 138,770 shares of the company's stock after acquiring an additional 56,073 shares during the quarter. Balyasny Asset Management L.P. owned 0.08% of OLO worth $1,066,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tandem Financial LLC purchased a new stake in OLO in the fourth quarter worth about $26,000. Global Retirement Partners LLC bought a new position in OLO during the fourth quarter valued at approximately $27,000. SBI Securities Co. Ltd. bought a new stake in shares of OLO in the 4th quarter valued at approximately $35,000. Envestnet Asset Management Inc. bought a new stake in shares of OLO in the 4th quarter valued at approximately $80,000. Finally, Franklin Resources Inc. bought a new stake in shares of OLO in the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

Analyst Ratings Changes

OLO has been the topic of several recent analyst reports. StockNews.com downgraded OLO from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Lake Street Capital lifted their price target on OLO from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th.

OLO Price Performance

NYSE OLO traded down $0.07 during trading on Friday, hitting $9.16. The company's stock had a trading volume of 1,764,582 shares, compared to its average volume of 1,243,281. The company has a market cap of $1.52 billion, a PE ratio of -91.54 and a beta of 1.41. The business's 50 day simple moving average is $6.69 and its 200-day simple moving average is $6.95. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.78.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly 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. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The firm's revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 EPS. Analysts expect that Olo Inc. will post -0.03 EPS 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.